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≡ USOPC 2024 FINANCIALS ≡
Make room for another billionaire. The United States Olympic & Paralympic Committee’s audited financial statements for 2024 were released on Wednesday, showing – for the first time – more than $1 billion in total assets:
● $661.199 million in investments
● $199.158 million in cash
● $53.580 million in restricted cash and investments
● $47.800 million in land, buildings and equipment
● $29.576 million in accounts receivable (royalties)
● $15.650 million in inventories, prepaid expenses, other investments
The total is a spectacular $1,018,116,000 – $1.02 billion for those preferring the decimal – up from $971.182 million at the end of 2023.
That the USOPC is a billion-dollar asset corporation is even more spectacular considering it is the only National Olympic Committee in the world which is not at least partially funded by its national government. Instead, the USOPC received income from six major categories in 2024:
● $213.641 million in broadcast revenue (from the IOC)
● $188.834 million in sponsorships-licensing (IOC and USOPC)
● $46.534 million in “special event revenue” (Paris 2024 related)
● $43.067 million in investment income
● $30.466 million in assets released from restrictions
● $29.846 million in contributions (cash and in-kind)
There was also $12.778 million in other items, for a revenue total of $565.166 million. Against this in 2024 was:
● $233.937 million in “athlete excellence”
● $49.567 million in “sport advancement”
● $50.708 million in “community growth”
● $50.030 million in “special event revenue” costs
● $51.534 million in fundraising, sales and administrative
That’s $385.566 million in expenses, so the USOPC had a surplus of $129.570 million for 2024.
The administrative cost of $27.795 million accounting for 7.2% of all expenses and 4.9% of revenue. The USOPC listed a total of 642 employees in calendar year 2024 on its IRS Form 990 tax return.
The USOPC financials also included some dramatic totals for the four-year quadrennial of 2021-24, which are partially impacted by the postponement of the Tokyo 2020 Olympic Games to 2021. For the four-year cycle:
● $1.607406 billion in total revenue
● $746.410 million from sponsorships-licensing (46.4%)
● $531.866 million from broadcast revenue (33.1%)
● $96.189 million in investment income (6.0%)
● $86.532 million in contributions (cash and in-kind) (5.4%)
That’s 90.9% of the total with the remainder from special-event income and other items.
Expenses were $1.346681 billion for the quad, with $787.054 million (58.4%) for “athlete excellence,” $172.199 million for “sport advancement” and $176.295 million for “community growth.”
Fundraising, marketing and administrative cost $211.133 million for the four years, or 15.7% of expenses, or 13.1% of revenues. Administrative costs of $133.222 million for the quad were 9.9% of expenses or 8.3% of revenues, indicating a downward trend from 2021 to 2024.
The future is also looking bright, as the statements note future “conditional” contributions not yet shown of $107.370 million already pledged, with most of it coming in 2025-26-27.
Way in the back of the financial statements is a fascinating page which details payments made to athletes and the National Governing Bodies as part of the “Athlete Excellence” programming. Four major categories make up the $191.040 million in spending in 2024:
● $55,714,653 in direct “Athlete Grants”
● $21,737,708 in “Athlete Services”
● $78,628,833 in “NGB Grants”
● $34,958,779 in “NGB Services”
This covers not only direct payments to athletes, but travel and Games support, insurance, medical support, coaching and more. A significant part of the money given to the National Governing Bodies also ends up in athlete stipends, but a combined total of all direct-to-athlete funding was not included.
¶
There are a lot of numbers here, and a lot of money. The USOPC has reaped significant rewards from its long-term revenue-sharing deal with the International Olympic Committee – almost $785 million from 2021-24 – and its joint marketing venture with the LA28 organizing committee.
However, even with its billionaire status, the demands on the USOPC to pay more for NGB pipeline development, more for athlete medal performances and the looming possible implosion of the collegiate sports system for sports other than football and basketball, mean there is not close to enough money to achieve everyone’s goals and desires.
But for now, the USOPC can take a few minutes to celebrate – once again – a great 2024, and then get back to getting ready for the Milan Cortina Winter Games in February and LA28 coming soon after.
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