The SLOC's Board of Trustees' Executive Committee
recommended Wednesday that the full board approve a $2M
compensation package for former SLOC President Tom Welch,
according to Mike Gorrell of the SALT LAKE TRIBUNE. The
full board will take action at a special meeting "likely" to
be held in the first half of August. At that time, the
board will also consider the committee's suggestion that
board Chair Frank Joklik serve as interim CEO until a
replacement is found for Welch. Welch resigned on Tuesday
after being charged with domestic abuse. Gorrell: "Welch's
decision to move aside quickly and quietly was tied, in
part, to the compensation package." The SLOC's legal
counsel Jim Jardine said that the package "represents the
board leadership's position Welch should be recompensed for
working without pay and retirement benefits." Welch will be
paid a consulting fee of $10,000 a month for the 55 months
through February, 2002. The SLOC can "require" 35% of his
time and the board must approve any other work Welch does
related to sports or the Olympics. The SLOC will also pay
Welch $1M "in recognition of, but not to fully compensate
him for, six years of unpaid work" on behalf of the SLOC's
bid. Welch will also receive retirement benefits "not to
exceed" $500,000 (SALT LAKE TRIBUNE, 7/31).
CHECK-ETT IN? MSG President Dave Checketts "has been
contacted" by reps of UT Gov. Mike Leavitt to "determine if
he is interested in running the 2002 Winter Games," a USOC
source told Ian O'Connor of the N.Y. DAILY NEWS. Checketts
"refused to confirm" whether he had talked to officials
regarding the position. But the source said that Leavitt
"has made it clear to Checketts ... that he is the
governor's personal choice for the job." Checketts: "Much
to the dismay of Ranger fans, I'm very happy at the Garden.
I have no intention of leaving" (N.Y. DAILY NEWS, 7/31).
OTHERS: USA TODAY's Mike Dodd lists First Security Bank
CEO Spencer Eccles; Sinclair Oil Corp. Chair Earl Holding
and former UT State Speaker Nolan Karras as other "prominent
possibilities" to replace Welch (USA TODAY, 7/31).
