The fundraising arm for the U.S. Olympic team is revving up a donation drive aimed at raising $500 million by the time the Summer Olympics return to Los Angeles in 2028
FILE - Katie Ledecky swims during a Women's 800 freestyle preliminary heat, June 21, 2024, at the US Swimming Olympic Trials in Indianapolis. .Monday, hoping to use the momentum of this year's Olympics, which begin July 26, to bring in funds for the 4,000 to 6,000 athletes who compete for spots at both the Summer and Winter Games, about 800 of whom land on the U.S. rosters over a four-year period.
At the urging of then-chairman Peter Ueberroth, the U.S. Olympic Committee got more serious about fundraising in 2008. In 2013, it created the U.S. Olympic and Paralympic Foundation as its main fundraising organization. The current fundraising campaign, called “One for All: The Campaign for Team USA,” has brought in around $200 million of its $500 million target. That includes a recent $25 million donation, details of which were revealed Monday, from philanthropistsThe funds are designated strictly for programs that help athletes both during and after their careers in three areas: health and wellness, sport performance innovation and athlete career and earnings.
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