November 7, 2019
How to make ends meet
The new 2020 International Sailing Federation – World Sailing – will start with just 41 thousand euros in its bank accounts. In August of the same year, the deficit of funds may be projected to be one and a half million, according to an informed British site https://www.insidethegames.biz.
World Sailing hopes to pay off debts, having received a large bank loan in the middle of the year.
The shortage of funds arose primarily due to the insufficient receipt of sponsorship funds. It was planned that for the Olympic four-year period 2017-2020, the international federation will receive 13.5 million euros from sponsors. In fact, they received 5.5 million less.
I had to hurry up my belts. As a result, a deficit of 5.4 million euros, which occurred in 2018, was reduced to 2.65 million this year.
The greatest hopes for the next four years, World Sailing financiers associate with the fact that the IOC will transfer to the federation its share of the profit for the Olympics 2020 – about 11.6 million euros.
But in any case, making ends meet will not be easy. Unless the new CEO of World Sailing demonstrates the wonders of financial ingenuity. As you know, the current gender British Andy Hunt, who has been criticized mercilessly for his unsuccessful actions in recent years, will leave the international federation early next year.
254 November 7, 2019 # 9660