World Sailing is closing hatches!
The Coronavirus created the perfect storm to guide World Sailing sailing.
The global coronavirus pandemic has had a strong impact on everyone. The International Sailing Federation was not an exception, experiencing great problems in connection with the failure of many competitions and events. The biggest hit for WS was the postponement of the Tokyo Olympics in 2021. In this regard, management had to give a distress signal.
As an Olympic sport, the sail is very dependent on revenue from the IOC. These financial injections were supposed to enable the federation, thanks to proper management, to stabilize the situation and restore their resources. But in the absence of this support, management had to call "boats on the water."
On April 14, President Kim Andersen made a statement on behalf of the World Sailing Board of Directors:
“The World Sailing Board of Directors continues to closely monitor the financial situation and all operations of the Federation during the COVID-19 virus pandemic.
The UK government has provided World Sailing Limited (a company with WS staff) the opportunity to apply for government financial support to cover salary costs during the crisis.
Like many organizations in the UK, the WS board has decided to take advantage of this assistance to ensure its long-term financial viability.
From April 15 to May 6, 2020, all personnel were officially sent on vacation. The difference between government subsidies and wages will be covered by the federation. After May 6, management will decide whether these vacations will be extended or whether employees will be able to return to work.
Despite the vacation, some of the top managers of the federation continue to work.
At the same time, the WS board of directors demanded that employees' salaries exceeding a certain level be reduced by 20% by the end of the year. The salary will be restored as soon as the financial position of the federation allows it. To make this decision, we need the consent of the staff, so a personal discussion will be held with each of the staff members.
"WS leadership continues to negotiate with all partners regarding the consequences of the postponement of the Olympics in order to achieve a stable financial condition."
The original statement is available on the World Sailing website.
139 Yesterday # 10059
world sailing COVID-19 coronavirus