For the Love of the Sport and Its Athletes: It’s Time for New Leadership at USATF
Under Max Siegel, USATF has doubled its revenue but is financially weaker today than before he arrived. Despite historic Nike sponsorship money, the federation’s net assets have been wiped out, it runs frequent deficits, and its CEO takes home Wall Street–level pay while athletes continue to fight for support. Governance watchdogs and the USOPC have flagged deficiencies. This is not sustainable leadership—it is self-enrichment at the expense of the sport. For USATF to truly serve athletes and grassroots members, we need new leadership with stronger financial discipline, better transparency, and alignment with our mission.
I’m a USATF volunteer and a die-hard track & field fan. I rake sand pits, check bibs, and cheer until I’m hoarse because I believe this sport changes lives. That’s why it hurts to say this: USA Track & Field needs a new CEO. For all the talk of “historic growth,” the facts show an organization that’s financially weaker, governance-strained, and increasingly out of step with its athlete-first mission.
The numbers don’t lie
Start with the latest IRS filing. USATF lost $5.6 million in 2023 on $35 million of revenue, ending the year with negative net assets (–$4.49 million)—liabilities exceeding assets. Those aren’t my words; that’s the organization’s own Form 990 summary. The same return flags first class/charter travel on Schedule J and related-party transaction disclosures on Schedule L. It also reports $1.17 million in reportable compensation for the CEO in 2023.
And 2023 wasn’t a one-off. 2022 also posted a multi-million-dollar loss, collapsing reserves to roughly $0.6 million to start 2023—a 93% drop from the prior year, according to independent analysis of USATF’s filed 990. That thin cushion even prompted “growing concern” warnings in commentary about the financials.
Set those results against the CEO’s pay history. In 2021, USATF’s own tax filing showed $3.8 million in total compensation for the CEO—about 11% of all revenue that year—sparking broad athlete and fan outrage.
This is not what stewardship looks like at a member-driven nonprofit.
This isn’t a revenue problem—it’s a leadership problem
No one disputes that USATF has signed big deals. In 2014, USATF extended its sponsorship with Nike through 2040, widely reported in the $450–500 million range (~$20M per year). That long runway was supposed to create stability and lift all boats.
And the top-line has grown. In 2023, program service revenue (sponsorships, events, media) accounted for ~70% of USATF’s income, a sign the commercial engine is humming. Yet even with that, USATF still lost money and finished with negative net assets. That points to choices cost discipline, budgeting, and priorities—not to a lack of opportunity.
Governance and athlete voice have fallen short
The U.S. Olympic & Paralympic Committee’s NGB Audit completed in 2022 (with an addendum in 2023) documents serious governance gaps. While USATF remediated many items, auditors still flagged “Deficient” status on athlete representation (board and committee composition, elections, and eligibility) and “Needs Improvement” on bylaw completeness and related processes. Audit notes also cite late financial filings in the period under review. This isn’t a technicality; athlete voice and timely transparency are core to trust.
Before and after: a fair comparison
Max Siegel became CEO on May 1, 2012. Before that, USATF’s annual revenue typically ranged ~$18–22 million with modest surpluses and healthy (if small) reserves. Today, despite materially higher revenue, the latest filing shows liabilities now exceed assets. That’s a stunning reversal on the most basic measure of organizational health.
Why this matters to athletes and volunteers
When reserves are thin or negative, every shock—an event overrun, delayed receivable, or legal bill—puts programs at risk. It makes it harder to pay grants on time, fund development meets, support coaches and officials, and invest in safe, athlete-centered environments. It also corrodes morale. Nothing sours a locker room faster than seeing leadership fly first-class and take seven figure pay while the organization is running deficits. The 990 literally lists those travel perks and compensation figures.
The standard we should demand
USATF can be both commercially strong and mission-true. That requires leadership that:
1. Rebuilds reserves to prudent levels (multiple months of operating expenses), measured and reported quarterly.
2. Delivers balanced budgets—especially in non-Olympic years—and ties executive bonuses to surplus, reserve, and athlete-support metrics.
3. Fixes governance to full USOPC compliance on athlete representation and bylaws—then keeps it that way.
4. Publishes plain-English transparency: a yearly athlete-impact report showing how sponsorship dollars flow to athletes, grassroots, and safe-sport investments.
5. Resets optics and culture: economy travel unless medically necessary, no outsized payouts during deficit years, and automatic clawbacks if financial guardrails aren’t met.
USATF’s current trajectory—back-to-back losses, negative net assets, and recurring governance red flags—fails that standard. The responsibility for resetting course starts at the top.
A respectful but urgent call to action
To the Board of Directors: open a leadership transition now.
- Appoint an interim CEO respected by athletes and meet organizers.
- Launch an open search with athlete-council participation and clear selection criteria tied to nonprofit stewardship, not just deal-making.
- Adopt compensation policy reforms that gate incentives on reserves, audit timeliness, and athlete outcomes.
- Publish a 24-month turnaround plan (budget balance, reserve rebuild, governance fixes) with quarterly public checkpoints.
To Association leaders and volunteers: pass resolutions, engage your delegates, and insist on the above. We can treat every meet as a masterclass in logistics and integrity—if our national office models those same values.
To athletes: your voices carried this sport through its hardest days. Keep speaking. Demand representation that’s compliant in letter and spirit—and a budget that puts you first.
Track & field thrives because of people who show up—athletes, coaches, officials, parents, and volunteers. We deserve a federation that shows up for us with the same discipline and honesty we bring to every lane and runway. It’s time for new leadership at USATF.