SBD/May 16, 2013/Olympics

London Hauling: USOC Brings In Record $337.4M In Total Revenue Last Year

Increased broadcast rights fees for the London Games drove the USOC's total revenue to a record $337.4M last year, according to tax filings the organization released yesterday. The total marks a 20% increase from the $280.6M in revenue the USOC collected in ‘08, the last time a Summer Games was held. The organization receives 12.75% of TV rights revenue the IOC collects from NBC and the network’s payment jumped from $893M for the ‘08 Beijing Games to $1.2B for London. As a result, the USOC’s broadcast rights revenue jumped from $123.4M in ‘08 to $164.6M in ‘12. Sponsorship revenue, which included both domestic and an 18% cut of IOC sponsorships, brought in $98.6M, up from $94.3M in ‘08, while gifts, grants and fundraising totaled more than $61.2M, up from $51.8M in ‘08. Total expenses hit $247.1M in ‘12, up 7% from $231.1M in ‘08. Grants to NGBs topped the list of expenses with $56.9M. The other top expenses included: $31.9M on salaries, $23.1M on athlete grants, $21.6M on outside services and $16.4M on travel.

 
'12
'08
TOTAL REVENUE
$337.4M
$280.6M
Broadcast Rights
$164.6M
$123.4M
Sponsorship Revenue
$98.6M
$94.3M
Gifts, Grants & Fundraising
$61.2M
$51.8M
TOTAL EXPENSES
$247.1M
$231.1M
NGB Grants
$56.9M
$48.9M
Salaries
$31.9M
$25.6M
Athlete Grants
$23.1M
$21.7M
Outside Services
$21.6M
$23.8M
Travel
$16.4M
$21.5M

For the first time in four years, the organization’s tax filing does not include any payments to former execs. The organization’s ‘09 filing saw it pay former execs $1.49M, and its ‘10 filing showed payments to three CEOs: current CEO Scott Blackmun and two former CEOs, Jim Scherr and Stephanie Streeter. Blackmun earned total compensation of $765,359 last year. USOC CMO Lisa Baird earned $495,479, Chief Communications & Public Affairs Officer Patrick Sandusky earned $398,983, CFO Walter Glover earned $361,261 and General Counsel Rana Dershowitz earned $337,737.
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Olympics, USOC

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