Saturday, August 6, 2011
USATF expense spike linked to lawsuit
USA Track and Field spent $2.3 million on administrative costs in 2010, more than double the amount of the previous year, in part because of the lawsuit filed by the CEO it fired.
The federation for the country's largest summer Olympic sport fired Doug Logan last year and he sued to have the $1.7 million left on his contract paid. An undisclosed settlement was reached this year.
Spokeswoman Jill Geer said USATF would not divulge how much of the increase in spending on "administration and governance" was attributable to the litigation but said it was part of the reason that line in the 2010 statement rose from $1.02 million to $2.3 million.
USA Track brought in $19.45 million in 2010, an increase of more than $6 million. Total expenses rose from $14.4 million in 2009 to $18.9 million in 2010
There was a spike from $208,000 to $2.02 million in accounts payable and accrued expenses, attributable in part to the Logan settlement along with USATF's 2012 Olympic ticket order.
Over the past decade or so, the U.S. Olympic Committee, which funded USATF to the tune of $2.9 million in 2010, has made a point of funneling a larger percentage of its money toward athletes and training and less to administration and governance. Last year, the USOC made the final payments to two former CEOs -- Jim Scherr, who was fired, and Stephanie Streeter, who took his place and eventually left.
Asked about the USATF expense report, USOC spokesman Patrick Sandusky declined to comment.
USATF has put its search for a new CEO on hold, leaving Mike McNees in the interim position as the team gets ready for the 2012 Olympics.
Unable to pick a new leader after narrowing a list of 100 candidates down to three finalists, USATF instead formed three committees to assist with leadership in the buildup to the London Games.