FYI: (per cnbc squawk box in Paris)
The amount of money that is spent every four years to help get them there? About $1 billion, according to U.S. Olympic and Paralympic Foundation President Christine Walshe.
Unlike many other countries competing in the Games, Team USA stands apart as it is not funded by the federal government, but rather by fans, sponsors, and broadcast royalties. “It’s a little bit like private equity,” Walshe said, noting that there are 55 sports supported by Team USA.
The USOPC recently launched a $500 million campaign in the lead-up to the 2028 Summer Games in Los Angeles, the largest in its 10-year history.
Walshe said that the ambitious goal, which has raised about $190 million so far, is critical as Team USA looks to not only continue to compete at a high level but also to support athletes who are dreaming of gold medals.
“These athletes, 57% of them are living below $50,000 a year,” she said. “The most important metric for us is that athletes have a pathway and that the athlete journey that we’re building provides them the opportunity to become Olympians.
