USOC announces increase in winter sports funding

By  | 

The U.S. Olympic Committee is increasing funding for America's winter sports as they prepare for the Vancouver Olympics.

The USOC board added $16.5 million to the budget yesterday. That brings the total funding for the current four-year period to $58.2 million -- a 55 percent increase over the last Winter Games.

It's just the kind of news Stephanie Streeter wants to deliver as she finds her footing as the USOC's new acting CEO. She said the organization was able to construct a conservative budget to come up with some extra money for training.

Meanwhile the USOC and Bank of America are still in discussions about ways to salvage a sponsorship deal that was worth $12 million-plus from 2005-2008.

(Copyright 2009 by The Associated Press. All Rights Reserved.)