Olympic and Paralympic Committee leadership take pay cuts, warn more to come

U.S. Olympic and Paralympic Committee (USOPC) CEO Sarah Hirshland announced Tuesday that she would be taking a 20 percent pay cut, while the rest of the panel’s executive team take 10 percent pay cuts, as the USOPC struggles with the loss of revenue due to the coronavirus pandemic.

“Rather than attempting a simple across-the-board reduction, we will make strategic decisions based on the resources needed to continue mission-critical programs, services and functions,” Hirshland wrote in a letter that was obtained by The Associated Press.

Hirshland added that the cuts would help “balance both the current delay in revenue and anticipated decline in revenue that we expect over the next several years.”

The AP notes that the USOPC’s budget runs on four-year cycles, with most of the governing body’s revenue coming from the summer olympics, as that’s when TV payouts are at their peak. According to the wire service, in 2016 — the year of the most recent summer olympics — the USOPC made $336 million, $195 million more than it generated in 2015.

If the Tokyo Olympics, which were postponed until next summer do happen, the USOPC will get the TV revenue, but it will be a year later than expected.

Individual sports federation are already feeling the absence of the expected revenue. USA Cycling and USA Track and Field have announced layoffs, while USA Rugby has filed for bankruptcy. The AP reports that a recent survey shows that combined all of the U.S.’s national governing sports bodies would lose $121 million between February and June.