TAKING CARE OF ITS OWN: USOC SPENDING MONEY ON ITS ATHLETES
The USOC will celebrate the 20th anniversary of its
Colorado headquarters on Friday, and Michael Hiestand
examines the role and budget of the Olympic committee in USA
TODAY's "In Focus" section. He writes that with annual
revenues of about $107M, the USOC is "bigger than nearly all
major league teams," and that about 79% of all USOC revenues
"arguably support athletes." The USOC's administration costs
are about 7% of its budget, about half the level of a decade
ago, and "direct support" of athletes has increased from 1%
to 11%. The USOC has put aside an extra $18M to train elite
athletes for the 2002 Games and $8M for the 2000 Games.
While individual contributions account for about 10% of
revenues, the USOC expects to sign about 17 top sponsors for
the 2002 Winter Games in Salt Lake City, whose eight-year
deals "will total more than" $800M. The USOC's "quadrennium
budget" has grown from $55M in '77-80 to its current $429M.
Hiestand adds that while USOC President Bill Hybl and the
Exec Committee are unpaid, '96 reports showed that USOC Dir
Dick Schultz made $506,000 while USOC Deputy Secretary
General John Krimsky made $389,000 (USA TODAY, 8/13).