USOC Board of Directors Conducts Quarterly Meeting in Chicago

CHICAGO, Ill. - The United States Olympic Committee (USOC) Board of Directors met today in Chicago, Ill., for its quarterly meeting amidst the backdrop of the 2009 U.S. Olympic Assembly, the 2010 U.S. Team Media Summit and the 2009 Olympic SportsLink Conference.

Among the agenda items and discussions throughout the meeting, the Board received an update on the USOC's planning and preparation for the 2010 Olympic and Paralympic Games in its effort to fully support America's athletes at the highest level, both on and off the field of play. The next phase of Vancouver planning consists of the U.S. Team Leader Countdown Meeting in Vancouver Oct. 5-8.

The Board approved numerous sport selection procedures for the 2010 Olympic and Paralympic Winter Games, the 2010 Youth Olympic Games, the 2011 Pan American Games, and the 2012 Olympic and Paralympic Games. The USOC Team Selection Working Group (TSWG) - consisting of representatives from the Sport Performance, International Games and Legal Affairs Divisions - reviewed each of the procedures and nominations and recommended them for Board approval.

The Board also received an update from Chicago 2016 Chairman and CEO Patrick Ryan on the status of the United States' bid to host the 2016 Olympic and Paralympic Games. The Chicago City Council voted unanimously Wednesday to support Mayor Richard Daley in signing the International Olympic Committee (IOC) Host City Contract, providing a full financial guarantee as well as a boost in momentum heading into the final weeks of the bid process.

The Board voted to approve revising the U.S. Olympic Foundation (USOF) bylaws to utilize the USOF as a fundraising body in addition to its role as an investment entity. The revisions may include the addition of a contribution-based member Board of Trustees that will commit to donations made to the USOF over their term. The USOC and the USOF will now work together to craft mutually acceptable revisions to the USOF bylaws. The Boards of each organization will then vote on the revisions at their December meetings. 

The USOF was established after the LA 1984 Olympic Games with approximately $111 million that resulted from the USOC's share of the surplus from those Games. It is a separate entity from the USOC tasked with overseeing the corpus of the endowed funds. A 10-member Board monitors the assets, investments and annual distribution of the funds. The expansion of its role will significantly increase fundraising capabilities for the Olympic Movement.

Other topics presented and discussed at the Board meeting included:

• The summer NGB resource allocation process. Twenty-seven NGBs have presented their 2010 resource requests, which the USOC - along with representatives from the NGB Council and the Athletes' Advisory Council - will consider during the allocation process.
• The USOC's long-term International Relations strategy.
• Changes to the Olympic Ambassador Program since Beijing. The program for Vancouver has been customized for the winter NGBs and will be conducted at their selected sites rather than central locations.
• A presentation on the Athletes Advisory Council from AAC Chair Matt Van Houten and AAC Vice Chairs Nina Kemppel and Jon McCullough.

Tags: Chicago 2016, Olympic Assembly, Olympic SportsLink, U.S. Olympic Foundation (USOF), USOC, USOC media summit