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USA Cycling confirmed Friday that it is expecting a 30 percent downturn in budgeted revenue in 2020.
The coronavirus pandemic has torn a hole in both the international and domestic cycling calendar. Earlier this month, all events through May 3 were postponed or canceled, and this week, news came that the Tokyo Olympics is to be re-scheduled.
As a result, USA Cycling expects a revenue shortfall of over 30 percent due to decreased sponsor support and race income. In a bid to manage budgets, the body has been forced to make organizational changes.
“Effective today, we reduced the size of our staff by 15 percent and furloughed another 25 percent for 2-6 months,” read an email from Rob DeMartini, President and CEO of USA Cycling. “The remaining members of our organization are stepping up to help navigate these challenging times and continue to support our mission to serve American cycling.”
DeMartini asserted that USA Cycling remains fully committed to the following goals:
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- Support the sport of cycling across all disciplines for riders and racers.
- Send a team of athletes to Tokyo in 2021 who are even stronger and more prepared to earn medals than if we had sent them this July.
- Support grassroots riding and racing so it is available in every corner of this country on any surface you prefer.
- Continue to provide community leadership for this sport we all love so much
“I am grateful for your membership in our community and support of USA Cycling and assure you we are unwavering in our commitment to serve this sport at all levels,” DeMartini said. “We will emerge stronger from these difficult times.”