COLORADO SPRINGS, Colo. – New financial reports from the U.S. Olympic and Paralympic Committee include unprecedented detail about money that goes to the sports organizations it oversees — a feature the federation is hoping will help followers decipher the U.S.
Olympic system's often opaque accounting picture.The USOPC on Monday released its annual tax form, which showed $54 million more in expenses than revenues for 2019 — a typical overrun in a non-Olympic year following a Winter Games.
The ugly numbers brought on by the coronavirus pandemic won't appear until the 2020 data is released next year.This financial statement is a reflection of what the federation said its priorities were in the pre-COVID world — namely, funneling more money.