On February 11, 1999, Romney was hired as the president and CEO of the
Salt Lake Organizing Committee for the Olympic and Paralympic Winter Games of 2002.
[104] Before Romney came on, the event was running $379 million short of its revenue benchmarks.
[104] Plans were being made to scale back the games to compensate for the fiscal crisis and there were fears the games might be moved away entirely.
[105] The Games had also been damaged by
allegations of bribery involving top officials, including prior Salt Lake Olympic Committee president and CEO Frank Joklik. Joklik and committee vice president Dave Johnson were forced to resign.
[106] Romney's appointment faced some initial criticism from non-Mormons, and fears from Mormons, that it represented cronyism or gave the games too Mormon an image.
[31]
Romney revamped the organization's leadership and policies, reduced budgets, and boosted fund raising. He soothed worried corporate sponsors and recruited many new ones.
[101][107] He admitted past problems, listened to local critics, and rallied Utah's citizenry with a sense of optimism.
[101] Romney worked to ensure the safety of the Games following the
September 11, 2001 terrorist attacks by ignoring those who suggested the games be called off and coordinating a $300 million security budget.
[103][108] Overall he oversaw a $1.32 billion budget, 700 employees, and 26,000 volunteers.
[104] The federal government provided $382 million of that budget,
[107] much of it because Romney successfully lobbied Congress to provide money for both security- and non-security-related items.
[109] An additional federal $1.1 billion was spent on indirect support in the form of highway and transit projects.
[109]
Romney became the public face of the Olympic effort, appearing in countless photographs and news stories and even on Olympics souvenir pins.
[101] Romney's omnipresence irked those who thought he was taking too much of the credit for the success, or had exaggerated the state of initial distress, or was primarily looking to improve his own image.
[101][107]
Despite the initial fiscal shortfall, the Games ended up clearing a profit of $100 million,
[110] not counting the $224.5 million in security costs contributed by outside sources.
[111] Romney broke the record for most private money raised by any individual for an Olympics games, summer or winter.
[103] His performance as Olympics head was rated positively by 87 percent of Utahns.
[112] Romney and his wife contributed $1 million to the Olympics, and he donated to charity the $1.4 million in salary and severance payments he received for his three years as president and CEO.
[113] No matter how you spin it, that's a terrific accomplishment. Give credit where it is due.