$26 Million Committed To U.S. Medals -- August 19, 1998
COLORADO SPRINGS, CO - The U.S. Olympic Committee's Executive Committee approved $26 million for a program aimed at increasing the number of American medalists in the next Olympics. The money will add significant support to athletes for the 2000 Olympics in Sydney, Australia and the 2002 Olympics in Salt Lake City as well as to coaches and national sports governing bodies. Of the $26 million, $18.4 million is already in the USOC budget, while another $7.6 million will have to be raised by a team headed by John Krimsky, USOC deputy secretary general. Two eight-member USOC staff teams, one each for summer and winter sports, will work with the Athlete Performance Group to formulate a four-year plan and finalize the programs Venture 2000 and Podium 2002.