USOPC Earned Over Half a Billion Dollars in Revenue from Paris 2024 Games
USA's Olympic Victory and the USOPC's Financial Success Story
Last year, Team USA's stellar performance at the Paris Olympics not only broke records in medals but also set a new financial benchmark for the United States Olympic and Paralympic Committee (USOPC). In its latest financial report, the USOPC announced a whopping $497 million in revenue for 2024, a substantial increase from the previous record of $458 million in 2021.
The USOPC's 2024 financial success can be attributed to several key income sources. The committee reported earnings of $217.3 million under "community growth," a significant bump from previous years. Royalties accounted for $154.8 million, while investment income was at $15.5 million.
At the helm of this financial juggernaut is USOPC CEO Sarah Hirshland, who earned a total compensation of $1.25 million in 2024. With a base pay of $802,770 and incentives valued at $425,000, Hirshland continues to lead the organization through the challenges posed by the COVID-19 pandemic and the aftermath of the Larry Nassar sexual abuse scandal.
Hirshland's five-year contract extension last July ensures her role with the USOPC until the 2028 Summer Olympics in Los Angeles.Under her leadership, the USOPC has shown resilience and adaptability, navigating turbulent waters to secure a bright future for American athletics.
The USOPC's largest grant of $8.44 million in 2024 went to USA Skiing, marking a notable increase from the previous year's $7.7 million. USA Track & Field received $5.29 million, and USA Swimming received $5.02 million. In total, the USOPC allocated $139.3 million in grants to individuals and organizations in 2024.
The committee also directed $76.2 million towards salaries, compensation, and benefits for its 642 employees. Brett "Rocky" Harris, chief of sport and athlete services, was the USOPC's second-highest-paid employee, receiving $613,417 in 2024.
General Counsel and COO Christopher McCleary earned just under $600,000, while the USOPC reported $2.96 million in legal expenses for 2024, a significant decline from the peak of $13.6 million in 2018, largely due to the fallout of the Nassar scandal.
Among its highest-paid independent contractors were Seattle-based business consultant Slalom Inc. and Denver-based creative agency Fresh Tape Media, who received compensation of $2.26 million and $1.97 million, respectively.
As the USOPC moves forward, it stands at the precipice of a new era. With the 2028 Los Angeles Summer Olympics and the 2034 Winter Games in Salt Lake City on the horizon, the committee is poised to continue its mission of excellence at every level and expand opportunities beyond just podium results.
The USOPC's 2024 financial success is a testament to the enduring power of American athletics and a promising sign for the future. As the Olympic movement evolves, the committee will undoubtedly continue to adapt, innovate, and inspire the next generation of Olympians and Paralympians.
### Bonus Fact: According to a separate report, the Los Angeles 2028 Olympic Games have secured Honda as a founding partner in a groundbreaking $2.5 billion sponsorship deal, marking one of the most significant corporate investments in the history of the Olympic Games.
The USOPC's financial success in 2024, with a revenue of $497 million, can be traced back to various income sources, including community growth, royalties, and investment income, thereby demonstrating the monetary impact of the sports realm on business matters.
In the coming years, with the Los Angeles 2028 Olympic Games on the horizon and the committee's ongoing commitment to excellence, it's plausible that the intersection of finance, business, and sports could witness further substantial growth and collaborations, similar to the groundbreaking $2.5 billion sponsorship deal secured by the committee with Honda as a founding partner.
