USA Track reports increased revenue

Updated: December 3, 2014, 6:36 PM ET
Associated Press

ANAHEIM, Calif. -- USA Track and Field nearly doubled its annual revenue in 2014 and will put more of that money into athlete training in hopes of pumping up the medal count at the Rio Olympics.

At the federation's annual meeting Tuesday night, CEO Max Siegel announced revenues had increased from $19 million in 2013 to an estimated $35 million this year, in large thanks to new marketing partnerships with eight companies and a renewal with Nike.

The increased revenue allowed USATF to put more than $11 million toward sport performance this year, with an additional $9 million budgeted for athlete programs from 2015 through 2020.

The U.S. track team won 29 medals at the 2012 Olympics, including nine gold -- an increase of six overall and two gold from 2008.

Copyright 2014 by The Associated Press

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