Current:Home > ScamsThe man who saved the 1984 Olympic Games and maybe more: Peter Ueberroth -Edge Finance Strategies
The man who saved the 1984 Olympic Games and maybe more: Peter Ueberroth
View
Date:2025-04-17 10:49:23
When Peter Ueberroth began recruiting Olympic volunteers in a meeting before the 1984 Games in Los Angeles, he made a harsh promise to the Americans vying for an opportunity to assist in the ascension of the U.S. as a sports business powerhouse.
“He said ‘Ladies and gentlemen, I promise you three things: long hours, no pay and guaranteed termination,’” said U.S. Olympic Committee board member John Naber. “At that time in the Olympic movement, that was the message we needed to bring.”
Ueberroth proved to be the catalyst in setting a precedent for the future of the Games and reinvigorated the Olympic movement with the ascendance of Los Angeles as an international sports hub of endless possibilities. The acquiring and financing of the Games coupled with the surplus of revenue produced through sponsorships proved vital in the elevation of the 1984 Games as a staple in modern American sports history.
Now 86, Ueberroth was unable to be interviewed, a spokesman said. But an innovator in the international Olympic evolution, Ueberroth organized the first-ever privately funded operation of the Games in Los Angeles, allowing for new infrastructure, new relationships with major sponsors and attractive television deals to galvanize a new era in the Los Angeles sports realm.
“Essentially, Los Angeles didn’t have to pay for any of the very few new facilities. Los Angeles was clearly 40 years ahead of its time,” said Olympic sports specialist Philip Hersh. “Despite the fact that the International Olympic Committee never gave [Peter] Ueberroth enough credit for it, he came up with a plan that led to private financing of the Olympics.”
Ueberroth placed increased importance on surplus revenue and created the patron program, an initiative designed for wealthy donors to pick the finest events, seats and venues to spectate the Games for an expensive price.
The program allowed for Ueberroth to use that additional revenue to purchase tickets for underprivileged children who couldn’t afford to buy passes due to expensive rates.
“The kids who couldn’t afford to buy tickets were given free passes courtesy of the generosity of the wealthy who wanted to sit in the luxury box,” Naber said.
In an effort to directly connect athletes with sponsors, Ueberroth, who became the sixth Major League Baseball commissioner in October of 1984, believed in the notion of athletes amplifying their profiles via television news stations such as ABC, allowing for more reach in competitors obtaining sponsorships and notoriety throughout the games.
“That was a big turning point in the world of sports, period,” said Edwin Moses, gold medalist in the 400-meter hurdles in the ’76 and ‘84 Olympic Games. “If you look at basketball, football, soccer, all of those sports today really have followed that model. That was one of the big off-the-track enterprises that [Peter] Ueberroth really made possible.
“An athlete’s athlete, he believed in the power of sports and the power of sports melded with business.”
veryGood! (81)
Related
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Kenneth Chesebro takes last-minute plea deal in Georgia election interference case
- Australia decides against canceling Chinese company’s lease of strategically important port
- Israeli writer Etgar Keret has only drafted short notes since the war. Here's one
- Small twin
- Virginia NAACP sues Youngkin for records behind the denials of felons’ voting rights
- The US is welcomed in the Indo-Pacific region and should do more, ambassador to Japan says
- He was rejected by 14 colleges. Then Google hired him.
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- 'The Golden Bachelor' recap: A faked injury, a steamy hot tub affair and a feud squashed
Ranking
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- UAW chief to say whether auto strikes will grow from the 34,000 workers now on picket lines
- Costco hotdogs, rotisserie chicken, self-checkout: What changed under exiting CEO Jelinek
- Schools across U.S. join growing no-phone movement to boost focus, mental health
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Philippine military ordered to stop using artificial intelligence apps due to security risks
- Gaza has long been a powder keg. Here’s a look at the history of the embattled region
- Italian Premier Meloni announces separation from partner, father of daughter
Recommendation
Nearly half of US teens are online ‘constantly,’ Pew report finds
A jury is deliberating the case of a man accused of killing a New Hampshire couple on a hiking trail
Making 'El Clásico' more classic: Barcelona to feature Rolling Stones logo on jersey
A stampede in Kenya leaves 4 dead and about 100 injured during an event marking an annual holiday
All That You Wanted to Know About She’s All That
From Israel, writer Etgar Keret talks about the role of fiction in times of war
Jury selection begins for 1st trial in Georgia election interference case
Fired at 50, she felt like she'd lost everything. Then came the grief.