The United States Olympic & Paralympic Committee (USOPC) is nearly a $900 million enterprise.
Upon releasing its 2021 financial statements at the end of June, it was revealed that the organization had $898.6 million in total assets at year’s end, with the possibility of it reaching a $1 billion dollar evaluation by the end of the decade with LA 2028 and the 2030 Winter Olympics in Salt Lake City on the horizon.
The Sports Examiner‘s Rich Perelman broke down where the USOPC ranks among other organizations in the Olympic Movement, with it only trailing two behemoths in the International Olympic Committee ($5.609 billion) and FIFA ($5.492 billion).
FINA is listed at $221.6 million (converted to USD) as of the end of 2021, trailing only FIFA and the International Skating Union (ISU, $295.4 million) in terms of international federations.
Compared to the USOPC’s assets, the Canadian Olympic Committee had $174.7 million at the end of 2021, and the Japanese Olympic Committee had $72.2 million a the end of 2020, according to Pearlman.
Over 40 percent of the Japanese committee’s budget consisted of government subsidies, while the USOPC receives no government funding and still dwarfs everyone other than the IOC and FIFA.
USOPC BREAKDOWN
The USOPC financial documents show that its a three-part organization made up of its operating division, the USOPC Foundation (USOPF), and the U.S. Olympic Endowment (USOE)
The assets of each as of the end of 2021 were as follows:
- USOPC (operating) – $497.9 million
- USOPF (fundraising) – $53.4 million
- USOE (endowment) – $492.4 million
Perelman notes that the USOPC borrowed $133 million during the pandemic and owes $131.1 million, but its net assets still come out at $568.1 million once all liabilities are taken out.
Not including the USOPF or USOPE, the USOPC itself (operating) has assets of $265.2 million, with a net gain of $106.8 million for the 2021 Olympic year ($459.5 million in revenue, $353.1 million in expenses).
The vast majority of revenue, 86.2 percent, came from sponsors and TV in 2021 for the operating portion of the USOPC. Combining all three parts of the organization, sponsors and TV contributed to just over 80 percent of the revenue.
The revenue numbers significantly drop in non-Olympic years: $205.2 million in 2019, and $208.2 million in 2020.
ATHLETE SUPPORT
Financials show that $158.9 million was used for athlete support in 2021, up from $107.7 million in 2020.
In 2021, $46.1 million were used in athlete grants and $68.1 million in NGB grants, some of which ended up going directly to the athletes.
USA Swimming received the third-highest amount of money in terms of NGB payments, coming in at $5.1 million.
Biggest NGB Payments For Grants, 2021
Courtesy of The Sports Examiner
- $6.8 million: U.S. Ski & Snowboard
- $5.4 million: USA Track & Field
- $5.1 million: USA Swimming
- $3.3 million: USA Gymnastics
- $2.3 million: USA Bobsled & Skeleton
In terms of money that went directly to the athletes, USA Swimming ranked second at $4.5 million, trailing only USA Track & Field.
Biggest Recipients of Direct-Athlete Grant Money, 2021
Courtesy of The Sports Examiner
- $5.5 million: USA Track & Field athletes
- $4.5 million: USA Swimming athletes
- $2.9 million: USA Volleyball athletes
- $2.8 million: U.S. Ski & Snowboard athletes
- $2.7 million: U.S. Paralympic track & field athletes
Perelman mentions that while many criticize the USOPC for spending just 10 percent on athlete payments ($46.1 million out of $459.9 revenue), the actual number actually falls at 34.5 percent with $158.9 million in payments to athletes, both for athlete services and to the NGBs.
From 2019 to 2021, direct athlete and NGB support have gone up from $96.6 million to $121.5 (22.3% increase).
The Sports Examiner notes that despite the USOPC’s wealth, they need more money to create annual athlete stipends “and closer cooperation with the National Governing Bodies to develop well-defined competition and training environments that lead to success on the field and create new enthusiasm for Olympic sports as the U.S.’s unequaled NCAA training system teeters on collapse.”
Are olympic and paralympic athletes given the same support?
Hi friends:
Just for the record, I’m Rich Perelman, not Pearlman. Have to stand up for spelling! Thank you.
Any idea how much USA pro swimmers get paid? Last I heard it was something like 80k/year.
Depends what level you are. A nationals finalist will struggle. A worlds or oly team member without a medal will do better. A Dressel will make bank.
I think the general situation one sees in many national and international sports organizations is that the aid given to athletes PALES in comparison to the top-heavy salaries of their executives who are frequently ensconced for years and years, if not decades such as FIFA, FINA, etc. Working for “sports” is a delightfully lucrative and well-paying job. . . .
Is salary and bonus info available for USOC employees and officials? The money going back to athletes for support seems like too low of a percentage.
It is in aggregate. I believe specific salaries are only available for the org’s top earners.
They spent $32 million on “personnel” costs, and $121 million on “athlete and NGB support.”
Hi Braden:
The USOPC’s Form 990 and their financials detail the top 20 earners; that’s it.