A countdown clock for the Tokyo 2020 Olympics is reflected in a puddle of water outside Tokyo Station in Tokyo, Monday, March 23, 2020. On Tuesday, March 24, Japan and the International Olympic Committee agreed to postpone the Tokyo Olympic Games until the summer of 2021 because of the coronavirus pandemic.DENVER -- The postponement of the Tokyo Games has catapulted the sports organizations that make up the backbone of the U.S. Olympic team into crisis.
As much or more as the U.S. Olympic and Paralympic Committee, which serves as an umbrella regulator of the country's Olympic sports, it's the NGBs that provide funding and other support for athletes to pursue their dreams at the Olympic and other elite levels. About 80% of the typical NGB's budget goes toward supporting athletes.
The USOPC broke with recent practice by not taking out insurance against that possible loss, instead deciding to self-insure. Some of the shortfall is expected to come from an endowment fund created out of a surplus from the 1984 LA Olympics. Already, USA Cycling, a mid-sized NGB with an approximate annual revenue of $15 million, laid off eight of its 70-person staff. And USA Rugby, which existed on about $14 million in revenue through 2017, was already teetering and could be nearing closer to bankruptcy with the added uncertainty the Olympic postponement has brought.
The only event that makes money for swimming is its Olympic trials, which are also a significant revenue source for track, gymnastics and other sports that send large teams. All have been postponed, to be rescheduled when the IOC sets a new date for the Olympics in 2021.
Good. The Olympics hate women and poor people. I hope that the whole governing body gets removed from their ability to bring this pain of displacement and erasure onto others. It sucks the fun out of sports too.
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