Foundation Running Olympic Facilities is $2.5 Million in Red

Foundation Running Olympic Facilities is $2.5 Million in Red


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(Salt Lake City-AP) -- The private foundation that runs the state's Olympic facilities will look for donations to cover a two-point-five (M)million dollars budget deficit.

The Utah Athletic Foundation also decided yesterday that it should cut the size of its board from the current 19 members to as few as nine within two years.

It also needs to find a replacement for Mark Lewis, its president and chief executive officer, who announced last week that he is taking a job with General Electric to oversee the company's Olympic sponsorship.

The foundation faces a tough task in balancing its budget for running the Utah Winter Sports Park near Park City, the Utah Olympic Oval in Kearns and the Soldier Hollow cross-country skiing and biathlon course in Wasatch Mountain State Park near Midway.

No decisions were made yesterday, but the foundation members decided to try to raise at least enough to balance the books this budget year, about two-point-five (M)million dollars.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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