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USATF Lays Off 11% Of Work Force; CEO Takes Salary Cut

USA Track & Field cut seven of its 65 employees yesterday, and CEO Max Siegel took a 20% pay reduction himself in cost-cutting moves amid a pandemic-related revenue decline. All of the cuts come in divisions that support live events, Siegel said. USATF sanctions 8,000 events a year, but since early March, all of them have been postponed or canceled. Financial and other support to elite athletes is unaffected by the cuts.

With sponsorship and USOPC funding making up 78% of its budget, USATF is less reliant on the income generated by grassroots events on a week-to-week basis than many other NGBs. But the cuts hit “functional areas where there’s really no work” Siegel said. USATF’s '18 revenue was $33.4M. No other employees besides himself were asked to take pay cuts. Siegel had been making $1.2M annually in '17, according to the most recent publicly available tax filings.

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

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