Colorado Springs puts hand in pocket to keep USOC

23 November 2009 | By Adam Fraser

Contract summary

Length of contract: n/a
Annualised value: n/a
Overall value: US$13 million

The City of Colorado Springs has deposited the US$13 million required to keep the U.S. Olympic Committee (USOC) in the city.

The funding includes US$9.5 million from the city, US$3 million from El Pomar Foundation and US$500,000 from the state of Colorado.

"This is a significant and major milestone in this project and it provides us with the means to expand our athlete services at the Olympic Training Center," said USOC acting chief executive Stephanie Streeter.

"We plan to begin this exciting expansion within the next few years enabling us, among other things, to accommodate married athletes at the complex and in this city. We’re excited that positive momentum is building for all the partners— Colorado Springs, El Pomar, and the USOC."

The USOC will move into its new headquarters in the city in March.

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