John Krimsky Jr. reflects on fund-raising for the 1996 Atlanta Centennial Olympic Games
New York, August 2023 – by John Krimsky Jr.
Almost 30 years ago, just as the Olympic Movement was preparing for the Centennial Olympic Games in Atlanta, USA Today was kind enough to give us some space to talk about fundraising for athletes in training for the U.S. Olympic Team.
In these past three decades, things have really changed and Ohio University was helpful in their study, “The Finances of Youth Sports in the United States.”
As Ohio U stated in 2020, “The landscape of the youth sports world is markedly different than it was a few decades ago. The cost of youth sports is much higher today than ever before, but the cost is just as much emotional as it is fiscal. Kids in sports are started earlier, expected to specialize earlier, and are worked harder than they were 25 years ago. In return, their parents spend more money, more emotion, and more time than ever before training up young athletes. With all the talk of the fees and equipment of youth athletics, one may wonder the true cost of youth sports.”
I have long been amazed at the tremendous support given to young athletes by their families. Ohio U estimates that the basic cost is now 10% of family income and that can easily double for more expensive sports. I had no idea of the level of “participation fees” that have increased tremendously in the last few years. Families must fund these fees for even basic recreational leagues. They are designed to cover insurance, venues, and all expenses for the site of competition.
We know too well that only a small percentage of kids will rise to become successful in the upper levels of elite sports, but there is no question that the sports industries must continue to provide both the opportunity and pipeline for future competitors.
As we approach the 2024 Paris Olympic Games next summer, it is well worth remembering and thanking those who support our future Olympians and their families who have made their journeys possible.
John Krimsky Jr. served as Deputy Secretary General of the U.S. Olympic Committee and the founding president of Olympic Properties of the United States (OPUS) responsible for raising the funds to host the 2002 Winter Olympics in Salt Lake City, Utah.
Reference – Ohio University, The Finances of Youth Sports in the United States
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