Report: US Olympic Organizations Could Lose $121M Due to 2020 Postponement

Paul KasabianSenior ContributorMarch 28, 2020

FILE - In this July 23, 2016, file photo, a representation of the Olympic rings are displayed in the Olympic Village in Rio de Janeiro, Brazil. The U.S. Olympic and Paralympic Committee will add athletes to its board and enhance its oversight of individual sports organizations. It’s part of a package of reforms stemming from the Larry Nassar sex-abuse scandal. The reforms were approved Thursday, Nov. 8, 2019 and go into effect in January. (AP Photo/Leo Correa, File)
Leo Correa/Associated Press

The 2020 Summer Olympics in Tokyo have been postponed until a to-be-determined date in 2021 because of the COVID-19 pandemic. 

Although the International Olympic Committee plans to hold the Games at some point, a survey by the NGB Council indicates that U.S. national governing bodies could lose at least a combined $121 million in revenue from February to June, according to the Associated Press (h/tESPN.com)

Forty-three of the 50 governing bodies responded to the survey.

Per the AP:

"Half the NGBs are little more than mom-and-pop operations, working with small staffs and on revenue not more than $5 million a year.

"The [United States Olympic and Paralympic Committee], which sent cash grants to the individual NGBs to the tune of around $65 million in 2018, is also in uncharted territory. The postponement of the Olympics forces the federation to make up for a shortfall nearing $200 million without the NBC payout that comes during Olympic years."

The AP also reported that at least one NGB has begun laying off employees.

All told, the USOPC said American sports could lose $600 to $800 million, although some of that money should be gained back with the Games in 2021.

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"We, as an NGB, will feel it next fall when memberships start rolling in. That shortfall could have a profound effect," USA Swimming's Tim Hinchey told the AP. "We can overcome a lot of these things, I think, if all comes back to normal. But we have to wait and see like everyone else."

Per the World Health Organization, there have been at least 512,701 confirmed cases of COVID-19 worldwide, and at least 23,495 people have died.          

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