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Volume 24 No. 156
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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.

Broadcast Rights
Sponsorship Revenue
Gifts, Grants & Fundraising
NGB Grants
Athlete Grants
Outside Services

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.