The fundraising arm for the U.S. Olympic team is embarking on a new donation campaign with the goal of raising $500 million by the time the Summer Olympics come back to Los Angeles in 2028. The initiative was launched on Monday, with organizers aiming to leverage the excitement surrounding this year’s Olympics, starting on July 26, to gather funds for the thousands of athletes vying for spots in the Summer and Winter Games, with approximately 800 making it onto U.S. teams throughout a four-year span.
Unlike many other Olympic teams, the U.S. team does not receive government funding and primarily relies on fundraising (12% in 2022), sponsorships (50%), and broadcast royalties from NBC (37%). With encouragement from former chairman Peter Ueberroth, the U.S. Olympic Committee intensified its fundraising efforts in 2008, leading to the establishment of the U.S. Olympic and Paralympic Foundation in 2013 as its main fundraising entity.
Christine Walshe, president of the USOPF, expressed her aspiration for all Americans to feel connected to Team USA by contributing. The ongoing fundraising drive, named “One for All: The Campaign for Team USA,” has already amassed approximately $200 million of its $500 million objective. One of the latest contributions unveiled on Monday was a sizable $25 million donation from Mary and Mark Stevens, described by Walshe as “our most historic contribution in the Olympic movement.”
The funds raised are specifically earmarked for initiatives that aid athletes during and post their careers within three core areas: health and wellness, sport performance innovation, and athlete career and earnings. The USOPF is teaming up with LA organizers to establish the “LA28 Athlete Performance Fund.” Walshe highlighted that 57% of U.S. athletes earn $50,000 or less annually, emphasizing the necessity to provide support and encouragement for them to remain in their sports and in the Olympic pipeline, with the aim of fostering enthusiasm for pursuing an Olympic pathway as a potential career choice.