Anticipating a 30% revenue loss due to COVID-19, USA Cycling has announced a large number of layoffs and temporary furloughs. With 775 events impacted and the postponement of the Olympic Games, cycling in the US is in dire straits. Thankfully, we all live under Capitalism ™ , a system that means the people who most need third-party help are the least likely to receive it. Here’s a photo of Slavoj Zizek.
USA Cycling don’t mention Zizek. This is what they’re saying:
Dear USA Cycling Member,
I am writing to share some significant changes deployed today within USA Cycling to help us handle the financial disruption caused by the COVID-19 pandemic. As a member I believe you should understand what changes we have instituted and how we plan to move forward.
Recently, I shared USA Cycling’s revenue sources and uses on our website. That data is based on the 2020 budget approved by our board in late 2019, which clearly did not anticipate today’s unfortunate realities.
With the postponement or cancellation of all events through May 3 with possible further extension, we expect to see 775 events impacted. The delay of the Tokyo Games to 2021 also decreased our planned sponsor support. Collectively, this results in a projected 2020 revenue shortfall in excess of 30%.
As a result, we had to make significant and difficult organization changes. Effective today, we reduced the size of our staff by 15% and furloughed another 25% for 2-6 months. 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.
Despite the challenges we are all facing, we remain fully committed to the following goals:
- 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 eam 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. We will emerge stronger from these difficult times.
Sincerely, Rob DeMartini President and CEO USA Cycling