Tokyo Olympics postpones U.S. Olympic program salary cuts

Tokyo Olympics postpones U.S. Olympic program salary cuts
Xinhua News Agency, Washington, May 24. Salary cuts, job cancellations, loss of sponsorship, and application for subsidies.   Under the impact of the New Coronary Pneumonia epidemic, almost all sports industries have felt the pain.If professional sports in the United States can still tighten their belts, then the Olympics in the United States will be faced with a more difficult situation after the epidemic is overshadowed, especially after the Tokyo Olympics have been postponed.  A few days ago, the US Olympic Committee and the Paralympic Committee decided to cut 51 positions, and also notified 33 employees of temporary leave. Although this does not mean that all employees involved will be unemployed, there have been dozens of people who have bought out before.The form of termination of the contract with the US Olympic Committee, so the scale of this wave of unemployment has been quite large, the last time the US Olympic Committee carried out such a large-scale layoffs, it must be traced back to the 2008 financial crisis.  In addition, the US Olympic Committee executives, including CEO Sarah Hirland, collectively lowered their salaries. Among them, Hirland’s salary will be reduced by 20% this year. This series of decisions is to help reduce the association this year.The cost of operations, in Hirschland’s words, is very sad, but the economic situation is very difficult. We can’t solve this problem within a few weeks. It will take several months to deal with it.  It is said that the Tokyo Olympics are gone this year, which is a heavy blow to the US Olympic Committee and various Olympic events.The Olympic Committee of the United States has its own business and is responsible for its own profits and losses. The most profitable year of an Olympic cycle is definitely the Olympic year, especially the Summer Olympics.In the 2016 Rio Olympics, the US Olympic Committee’s income was 3.400 million US dollars, nearly 200 million US dollars more than 2015 revenue.If the Tokyo Olympics are held as scheduled next year, the original media copyrights and sponsor funds will also be loaded into the purse of the US Olympic Committee, but the US Olympic Committee warned last month that if the Olympics were postponed after the cancellation, the Olympic GamesWill have very serious consequences.  The US Olympic Committee is ready to live a hard life, not to mention the dozens of member associations under it.According to statistics, from February to June this year, these associations had a total of thousands of competitions forced to be cancelled. Because of the cancellation of competitions, the loss of sponsorship and the suspension of dues, the association lost a total of more than $100 million.These project management associations, which also need to operate independently and bear their own profits and losses, felt the pressure early and began to help themselves with layoffs, compulsory vacations and salary cuts.  Generally speaking, the total income of all the associations under the United States Olympic Committee can reach hundreds of millions of dollars a year, which is simply not comparable to the wealthy professional games. Last season, the major league football and the U.S. basketball team both earned more than 8 billion dollars.The annual income of a professional basketball team will reach hundreds of millions of dollars.In the face of the epidemic, the professional leagues still have a punch, and they still have the power to spare, and more than half of the Olympic project associations have an annual income of several million dollars, and their ability to respond to the crisis is certainly insufficient.  The impact of the epidemic on the project association is real and very critical.At this very moment, the funds of many associations are stretched.Hirland said.  Cobb, president of the American Biathlon Association, said helplessly: Although no association has really gone bankrupt because of the epidemic, the buffer space for these Olympic project associations to deal with the epidemic is very small. Most of them are small-scale operations and have a single income channel.Few associations have additional ways to increase income.  The average annual income of the American Cycling Association is about 15 million US dollars, and the profit basically depends on the sponsorship fee obtained by hosting the event and the registration fee of the athlete.Without the game, the money is broken.Medium-sized project associations like the Bicycle Association can only be forced to lay off employees during the epidemic. The situation of other associations can be imagined.In addition, due to the postponement of the Tokyo Olympics, the various grants received by the associations from the US Olympic Committee this year will also be sharply reduced.According to statistics, there are a total of more than 4,000 employees in the American Olympic Committee affiliated association. After an epidemic, many people may have to lose their jobs.  As the epidemic continues to spread in the United States, the US economy is also being hit harder and harder.To boost the economy, the United States has launched a salary protection plan, and sports associations are also eligible to apply for this life-saving money.According to the previous incomplete statistics of the media, about 70% of the project associations have submitted applications, and the total approved government relief funds are about 12 million US dollars.For example, the American Ski Association is about $2.5 million, the American Swimming Association is $1.6 million, and the American Badminton Association is only 7.50,000 US dollars, most of the subsidies applied for by associations are hundreds of thousands of US dollars.The American Bicycle Association did not publish specific figures, but said it could maintain the four-week employee payroll and the remaining operating expenses.  The United States is a world sports power and even the hegemon in the Summer Olympics.After the epidemic spread in the United States for a long time and on a large scale, after affecting the management level of the Olympic Project Association, it will undoubtedly continue to be transmitted downwards, eventually affecting thousands of athletes with Olympic dreams spreading across various projects.  The consequences of lack of training funds, lack of training venues, poor maintenance and lack of competition due to the epidemic may also appear in the future Olympic stadium. Many athletes said that they have not been training for months.The US Olympic Committee also said that if the Tokyo Olympics were canceled, it would cause a devastating blow to American athletes.(Reporter Wang Jimin) Original title: Salary cuts and layoffs missed sponsorship The US Olympic program was severely hit by the epidemic