USA Boxing Back on Probation with USOC

[boxmel]

The following memo from Jay Warwick to Jim Millman was sent to me anonymously. I just wonder what the ultimate outcome will be..................


TO: Jim Millman, CEO USA Boxing

FROM: Jay Warwick

DATE: February 26, 2009

RE: USOC ACTIONS

This memorandum sets forth actions that are being taken by the USOC, and actions required to be taken by USA Boxing (USAB), as a result of the serious financial and organizational issues that are confronting USAB.

1. USAB is being placed back on probation.

2. USAB shall comply with all recommendations as specified in the Audit Report as prepared by the USOC Audit Division.

3. USAB shall immediately provide the Audit Report to the entire USAB Board.

4. All USOC funding to USAB is suspended until further notice. The USOC shall utilize these monies as it sees fit to fund elite athlete programs and urban sports programs.

5. The USOC shall facilitate the operation of elite athlete programs by directly paying for program expenses. The High Performance Director shall be in charge of managing all elite athlete programs under direction of the USOC. The High Performance Director’s salary shall be released to USAB for payment on a monthly basis. The USOC may modify the elite athlete programs as it considers necessary.

6. The USOC shall directly make grant payments to local boxing committees for approved urban sports programs.

7. The USOC shall continue to make direct athlete support payments to athletes, so as to facilitate and maintain the training and development of elite athletes.

8. USAB shall provide the USOC with an immediate action plan to reduce operating expenses to match current revenue levels.

9. USAB shall provide monthly financial updates to the USOC complete with current bank statements.

10. USAB shall demonstrate that it can create and execute a balanced budget and appropriate cost controls and financial policies to ensure the budget is adhered to.

11. USAB shall demonstrate that its operational revenue and expense run rates match.

12. USAB shall demonstrate that it can successfully achieve its stated revenue targets.

13. USAB shall execute a viable plan to resolve current issue that it has with the US Amateur Boxing Foundation, regarding withdrawal of Foundation monies.

14. USAB shall provide the USOC with a detailed account of how the Foundation monies were spent and of the measurable benefits resulting from those expenditures, including new sponsorship revenues.

[hbomb2]

Will this affect the monies that should be guaranteed to the returning Olympians and what affect will it have on international competition. A couple of years ago we had a problem and it stunted our progress. Thank you Mel for the information, it is not great news but membership should know of these things immediately.

[Dennis]

Here we go again.

[COladyref]

I hear Millman is out and at the rate they're going the Conditioning Guy will be at the helm....this is what happens when non-boxing people try to run a boxing organization. No wonder the foundation doesn't have any money. Less than a week long camp and see how our boys did in Ireland.

[boxmel]

I hear Millman is out and at the rate they're going the Conditioning Guy will be at the helm....

According to the memo sent from Jay Warwick, Patrick already has the reins.

No wonder the foundation doesn't have any money

.
The Foundation has money, minus the 1.8 mil USA Boxing helped themselves to without permission; USAB is broke.

[boxmel]

Does this mean that the top four boxers will start to get paid again ???

The USOC is paying the elite boxers directly.

[hbomb2]

Rumor has it may be only the top two in each weight class.

[Old Guy]

This is what you get for trying to run a non profit organization as a business.
For those of you who voted for the governance program, welcome to the world of CEO's.
They bleed the place dry then walk away unscathed and richer while we scramble to keep our sport afloat. As usual this will fall on the backs of the LBC's in the form of higher fees.
This is all I will say and not reply to any of your comments eithe for or against.

[boxmel]

For those of you who voted for the governance program, welcome to the world of CEO's.

USOC actually didn't give us much of a choice.