The U.S. Olympic Committee (USOC) has finalized the list of members for a special task force that will create a blueprint for restructuring the troubled organization.
Frank Marshall, who co-chairs the task force with fellow USOC vice president Bill Stapleton said, “we are very serious about this and we wanted to have as diverse a group and as much expertise as possible. We want to get this done quickly and make it as realistic as we can”.
Among the eight task force members are former Salt Lake City Organizing Committee chief executive Fraser Bullock and Cleveland Cavaliers owner Gordon Gund.
The group will meet for the first time Feb. 21 and is expected to issue its report and recommendations before the USOC’s board of directors meets in April.
The task force will focus on six areas: ethical behaviour; governance and organizational structure; maintenance of sensitive, confidential and proprietary information; communications policies; openness, transparency and disclosure; and fund-raising efficiency.
Marshall said he hopes the USOC group will work with Sen. John McCain’s task force to overhaul the USOC’s unwieldy structure.
He said, “ we will make all of our recommendations and efforts available to the independent panel. I really think we need to be part of the solution”.
Meanwhile, USOC chief executive Lloyd Ward wrote a letter to David D’Alessandro, chief executive of USOC sponsor John Hancock Financial Services, in which he said the USOC was working on a plan to reshape its operations to help sponsors get a better return on their investments.
The letter was accompanied by a report that summarized the USOC’s structure and financial status.
An executive summary of the report showed that 77 per cent of the money the USOC spends goes toward athletes and programs; 11 per cent to marketing and fund raising, nine per cent to administration and three per cent to underwriting the USOC’s governance.
