By Chris Chavez
November 9, 2023
USA Track and Field announced they have signed a five-year contract extension with CEO Max Siegel that will start on Jan. 1, 2024 and will keep him at the head of the organization through 2028.
Here’s what you need to know:
– Siegel was tabbed as CEO in April 2012 ahead of the London Olympics. Under his leadership, USATF boasts adding 19 partners including a 23-year contract with Nike, which runs through 2040 and is reportedly valued at $475 million.
– His previous contract was set to expire on Dec. 31, 2024.
– In December 2021, the U.S. Attorney’s Office for the District of Columbia requested documents as part of a criminal investigation to look into the financial relationship between USATF and Nike.
– Last year, Siegel came under criticism after USATF’s IRS Form 990 was posted and showed he made more than $3.8 million in 2021. USATF reported $33.6 million in revenue for 2021. Siegel fired back in an interview with the Times of San Diego.
– USATF shared that executive compensation firm FW COOK has conducted an independent CEO compensation evaluation and shared their recommendations ahead of the new contract.
– Most recently, USATF board member Jim Estes filed a lawsuit in Indiana against Siegel and COO Renee Washington alleging negligence by the governing body and defamation per se and invasion of privacy by Siegel in the bidding process for the 2024 U.S. Olympic Marathon Trials.
Here’s what he said in a statement via USATF:
“I am honored and profoundly humbled by USATF’s decision to extend my contract through 2028. I want to thank the Board of Directors and Chair Michael Conley for entrusting me to continue to lead USATF. My passion for the sport of track and field and my dedication to putting athletes at the forefront of everything we do has never been stronger. I am thrilled to continue my journey with USATF and look forward to helping USATF carry out its mission and achieve sustainable growth in the exciting years ahead with Paris 2024 and then LA28 on the horizon.”
Chris Chavez launched CITIUS MAG in 2016 as a passion project while working full-time for Sports Illustrated. He covered the 2016 Olympics in Rio de Janeiro and grew his humble blog into a multi-pronged media company. He completed all six World Marathon Majors and is an aspiring sub-five-minute miler.