WORLD CUP SHOWS A $60 MILLION SURPLUS
Already an "enormous success" in terms of attendance and
U.S. TV ratings, the '94 World Cup "formalized its financial
success yesterday, when the U.S. organizers announced that the
event will generate a surplus of more than $60 million." The
figure is "well above" what organizers had predicted. The
surplus funds will go to the U.S. Soccer Federation Foundation, a
non-profit corporation set up to promote soccer in the U.S.
However, the foundation will not give any money to the MLS, the
proposed outdoor pro soccer league being led by World Cup
Organizing Committee chief Alan Rothenberg. In fact, the MLS
owes the World Cup committee for a $5M loan (Steve Berkowitz,
WASHINGTON POST, 10/19). "In an era of declining sports
marketing dollars and increasing costs of mounting international
sporting events, the surplus is considered by some to be
remarkable" (Julie Cart, L.A. TIMES, 10/19).
BONUSES: Peter Ueberroth, who chaired the World Cup's
Compensation Committee, announced that all the full-time
employees of World Cup would receive salary bonuses. Rothenberg
reportedly will receive a $3M bonus as well as another $4M as
part of a deferred-compensation package for 'back pay due.'" The
board was not in complete agreement on the issue of Rothenberg's
compensation (L.A. TIMES, 10/19).