1984 : The new Olympics

Aug 17, 2023, 11:11:53 AM

The profits of the L.A Olympics used to introduce underprivileged kids to tennis

In 1984, the USA changed the Olympics forever. When they hosted the event in Los Angeles, they completely changed the system and financial model of the competition. Until then, it had mostly been public fund reliant. But in 1984, private sponsors became legion. It was heaven for the organisation committee; they set a record $230M profit, and their president Peter Ueberroth earned a $500,000-worth bonus. Instead of burning up his cash in Vegas, he donated his bonus to the LA84 Foundation that funded sports programmes in California, including the National Junior Tennis and Learning (NJTL) which gave tennis classes to underprivileged children. In the mid-1980s, the Compton NJTL local branch gave access to tennis to two young sisters, Venus and Serena Williams, who would later win the Olympics singles and doubles events. The –Olympic– circle was complete.