USOC names Probst from EA Sports as its chairman

Larry Probst has spent his life making video games and lots of money.

Now, he'll direct the continued makeover of the U.S. Olympic Committee. And like his accomplished predecessor, he'll do it for free.

Two weeks after being named to the USOC's board, Probst, the chairman of entertainment giant Electronic Arts, was elected chairman of the Colorado Springs-based organization Thursday by a unanimous vote of 10 board members.

He replaces Peter Ueberroth, the former Major League Baseball commissioner whose term expires this year. Ueberroth will remain with the USOC as an honorary president through the 2010 Vancouver Games and help Chicago's bid for the 2016 Olympics.

"I'm extremely honored to be chosen for this role," Probst said after his election to a four-year term.

Chances are Probst, to be appointed by the USOC on Oct. 12 when Ueberroth resigns during its annual assembly in Orlando, Fla., will focus some of his initial efforts on bolstering Chicago's chances against Madrid, Spain; Rio de Janeiro, Brazil; and Tokyo.
In its first evaluation in June, the International Olympic Committee rated Chicago third behind Tokyo and Madrid. The IOC will select the 2016 host next October.

Probst, 58, of San Francisco, will oversee a board that features IOC members Anita DeFrantz and Jim Easton, negotiate TV rights fees for the 2014 and 2016 Olympics and cultivate corporate sponsorships that fuel a $150 million annual budget. Other tasks include the launch of the U.S. Olympic Network cable channel and the push for government and private sector money.

"We need to shore up, expand our partnerships with major companies in the United States," Ueberroth said, "and Larry walks those halls well or better than I do."

In 16 years as EA's chief executive officer, Probst increased annual revenue by $2.8 billion and played a direct role in the development of EA games "Madden NFL" and "Tiger Woods PGA Tour," working with commissioners of professional sports leagues.

"I've had a lot of sports experience as a CEO," said Probst, whose EA salary was $81.76 million during a five-year stretch ending in 2005, according to a 2006 report on forbes.com. "I've had a very successful business career. I know how to work collaboratively with people. I know how to build and develop a team."

When Ueberroth, 71, became chairman in June 2004, the USOC was reeling from a stretch of financial mismanagement, ethics controversies and administrative turnover, and American track and field athletes were tarnished by the Bay Area Laboratory Co-Operative (BALCO) scandal.

Ueberroth made sure a new group of USOC leaders kept their hands clean and took a tougher stance on the fight against drugs, determined to promote cohesion with the U.S. Anti-Doping Agency.

He improved relations with other national Olympic committees, giving Chicago a fighting chance for 2016 after New York stumbled in its bid for the 2012 Olympics, won by London.

Under Ueberroth, the USOC revamped spending habits, maintained lucrative TV contracts and mended relationships with partners and sponsors. Its net assets ballooned from $51.1 million in 2003 to $119.7 million last year.

Ueberroth also loomed large in keeping the USOC in Colorado Springs. In March, the USOC accepted a $53 million incentives package from the city, a private developer and other parties, ensuring it will stay here for at least 25 years.