February 15, 1997 |
One legacy of the lengthy controversy involving USA Boxing's finances will be increased institutional control. What started as a routine audit on July 17 developed into a fiscal disaster as it was alleged that $3.18 million in U.S. Olympic Committee grants to USA Boxing had been misappropriated, according to records from 1989 to 1995.
June 25, 1995 |
Hard to believe, but we may end up remembering Al Davis fondly as the last of a vanishing breed of ornery, want-a-winner, individual football team owners. Davis, of course, decided last week to take Oakland's offer to move the Raiders from Los Angeles. For next season it looks like the vast Los Angeles-area market will be without a National Football League team, the Rams having departed to St. Louis.
July 17, 1994 |
The Inner-City Games has its first winner before the event begins--the games themselves. Nike presented Inner-City Games founder Danny Hernandez with a check for $100,000 on Wednesday to help support the sports festival created to give inner-city children an alternative to drugs and gangs.
February 14, 1993 |
The U.S. Figure Skating Assn.'s list of sponsors is so long and prominent, it looks like a roll call for the Fortune 500. But the U.S. Bobsled Federation will finish this fiscal year in the black by a mere $41. The U.S. Luge Assn. recently signed a sponsorship agreement that ensures its financial stability for the next six years and built a state-of-the-art indoor facility. But the U.S. Ski Assn.
November 10, 1992 |
The U.S. Bobsled and Skeleton Federation is broke and may have to declare bankruptcy if its fiscal situation isn't reversed within six weeks, Federation President James Morris said. The poor economic climate has affected corporate sponsorships. The organization is also hampered by an ongoing federal investigation into alleged mismanagement and sloppy bookkeeping, which resulted in $200,000-$400,000 going unaccounted for, Morris said.
CALIFORNIA | LOCAL
June 23, 1992
A total of $484,585 in new grants to Southern California youth sports programs has been announced by the Amateur Athletic Foundation of Los Angeles, the organization charged with disseminating surplus funds from the 1984 Olympic Games. The latest quarterly grants include $81,511 to the California Handicapped Skiers Foundation, $71,100 for a "sports and the law" program sponsored by the Constitutional Rights Foundation, $42,780 to the Riverside Aquatics Assn.