Key Takeaways
- • Sky News reported that the USOPC is working with New York-based merchant bank The Raine Group to explore private-equity options, with sources saying a deal could value the USOPC's commercial rights at several billion dollars.
- • No deal has been finalized, and the structure could take various forms, including a debt raise rather than a sale of a stake, according to the Sky News report.
- • The USOPC carried notes payable of $152.085 million as of 31 December 2025, down from $158.435 million at the end of 2024, per its 2025 financial statements.
- • The USOPC's IOC-derived revenue has fluctuated sharply, from $320.886 million in 2024 to $81.588 million in 2025, while U.S. rights fees beyond 2036 remain uncertain.
- • The USOPC says it is evaluating commercial models to generate greater resources while preserving its mission, governance, and leadership.
Summary
Sky News reported that the United States Olympic & Paralympic Committee (USOPC) is working with The Raine Group, a New York-based merchant bank, to explore private-equity options for its future. According to sources cited by Sky News, a transaction could value the USOPC's commercial rights at several billion dollars, though sources cautioned that no deal has been finalized and that it could take various forms, including a debt raise rather than the sale of a stake.
The USOPC confirmed it is evaluating a range of commercial models to generate greater resources in support of its mission. The organization said it has been in ongoing conversations with athlete and National Governing Body leaders and that any path forward will preserve its mission, governance, leadership and commitment to Team USA athletes.
The USOPC is not new to debt financing. Its 2025 financial statements show that it issued $133 million in private placement notes in May 2021 to maintain liquidity during the postponement of the Tokyo Olympic Games. Notes payable stood at $152.085 million as of 31 December 2025, down from $158.435 million a year earlier. Any new borrowing would add to that existing balance.
The USOPC's revenue depends heavily on the International Olympic Committee, which passes on a share of its U.S. television rights fees and a portion of TOP sponsorship revenues. According to the IOC's annual reports, IOC-related payments to the USOPC were $81.588 million in 2025, $320.886 million in 2024, $109.811 million in 2023 and $237.015 million in 2022, reflecting the Olympic and Winter Games cycle. NBC holds U.S. domestic rights through 2036, reportedly at a cost of about $3 billion for the 2034 and 2036 Games, but NBCUniversal's planned separation from Comcast in 2027 and the possibility of lower bids from rival broadcasters raise questions about future rights values. The IOC itself faces similar pressure from streaming, and IOC President Kirsty Coventry, elected in 2025, serves through 2037.
The USOPC confirmed it is evaluating a range of commercial models to generate greater resources in support of its mission. The organization said it has been in ongoing conversations with athlete and National Governing Body leaders and that any path forward will preserve its mission, governance, leadership and commitment to Team USA athletes.
The USOPC is not new to debt financing. Its 2025 financial statements show that it issued $133 million in private placement notes in May 2021 to maintain liquidity during the postponement of the Tokyo Olympic Games. Notes payable stood at $152.085 million as of 31 December 2025, down from $158.435 million a year earlier. Any new borrowing would add to that existing balance.
The USOPC's revenue depends heavily on the International Olympic Committee, which passes on a share of its U.S. television rights fees and a portion of TOP sponsorship revenues. According to the IOC's annual reports, IOC-related payments to the USOPC were $81.588 million in 2025, $320.886 million in 2024, $109.811 million in 2023 and $237.015 million in 2022, reflecting the Olympic and Winter Games cycle. NBC holds U.S. domestic rights through 2036, reportedly at a cost of about $3 billion for the 2034 and 2036 Games, but NBCUniversal's planned separation from Comcast in 2027 and the possibility of lower bids from rival broadcasters raise questions about future rights values. The IOC itself faces similar pressure from streaming, and IOC President Kirsty Coventry, elected in 2025, serves through 2037.
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