Dick's Sporting Goods to end U.S. olympic sponsorship

Dec 28 () - Sporting goods retailer Dick's Sporting Goods Inc said on Friday it will not renew its United States Olympic Committee (USOC) sponsorship beyond 2018.

The company, in an emailed statement, cited "new investment focus" as the reason but did not elaborate further.

All 86 athletes currently in its program that offers compensation and flexible work schedules have the option to remain Dick's associates and move to a traditional part-time role from Jan. 1, the company said.

Earlier this month, a report commissioned by the USOC and carried out by law firm Ropes & Gray said the olympic panel failed to protect athletes from the threat of sexual abuse.

It showed some top executives took no action as the Larry Nassar sexual abuse scandal was unfolding.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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