USA Gymnastics Files For Bankruptcy

Bella Breakdown

It was announced on Wednesday that USA Gymnastics, once home to some of the world’s best athletes, has filed for bankruptcy. This follows closely on the heels of the sexual abuse scandal involving Larry Nassar, a physician for the team’s athletes. In the wake of multiple lawsuits, and the conviction of Nassar, the team faces 350-400 claims nationwide.

USA Gymnastics has been in trouble for some time, facing charges against multiple employees and many rotating presidents. It’s now possible that USAG will be removed as the governing body for the sport, and many are questioning what this means for the many talented athletes who were looking forward to their Olympic debuts.

“We expect to keep working with (United States Olympic Committee) to act in the best interests of all gymnasts,” USA Gymnastics said in a statement Wednesday.

John Manly, an attorney representing dozens of women who are filing suits against USAG, has said that the organization is essentially imploding and no longer able to uphold its basic responsibilities to its athletes.

“Today’s bankruptcy filing by USA Gymnastics was the inevitable result of the inability of this organization to meet its core responsibility of protecting its athlete members from abuse,” Manly said in a statement. “The leadership of USA Gymnastics has proven itself to be both morally and financially bankrupt.”