A quick advice: when you're going to use something as a logo - always check out its readability at various scales. Try reducing this to, say, 20 or 30% of its size and see if you can still read the "fine print"
If on the reduced image you cannot see some details that are essential, the thing is bad designed. If some details can't be seened but don't affect much the image - they are redundant and you can just get rid of them.
In this particular case:
- the "fine print" will definitely disappear
- the smoke will, too
- and so will the details of the skater.
How to proceed?
Resume things. Get rid of those that are redundant, make bigger those that are too small (you can probably change their position in the design in order to do this).