Friday, May 18, 2012

Funding and the Ted Stevens Act

taken from Mark Cuban

"Because most Olympic sport athletes are severely underpaid — if at all. For every Usain Bolt who makes millions in endorsements and appearance fees (none from the IOC, however), there’s hundreds of elite athletes making ends meet just so they can train.

Athletes in “non-pro league sports,” swimming, figure skating, track and field, etc., have only one option to be truly considered the best in the world — win an Olympic medal.

And unfortunately, that option requires athletes to be the integral part in the most inefficient, dysfunctional, dated and corrupt system in sports — the IOC and their shady web of federations, committees and governing bodies.
In fact, in the United States, the Ted Stevens Amateur Sports Act grants legal monopoly status to the USOC. Any international sports event in the U.S. that has an Olympic affiliation must receive the blessing of the USOC and will also be required to pay a substantial sanctioning fee." ....

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