Inside the Games. By Liam Morgan.
World Sailing is in discussions with the International Olympic Committee (IOC) over the possibility of receiving financial support to help cover the absence of its share of the Olympic Games revenue after Tokyo 2020 was postponed until next year.
World Sailing President Kim Andersen told insidethegames the organisation was negotiating “bridge funding” with the IOC to carry the financially-troubled body through to the Games, pushed back to 2021 due to concerns over the coronavirus pandemic.
It follows Scott Perry, a vice-president of World Sailing, calling on the IOC to advance the cash-strapped federation its Tokyo 2020 payment to ease its financial issues.
The postponement of the Games has caused considerable financial uncertainty for International Federations (IFs), a significant number of which rely on the quadrennial payment from the IOC to survive.
In its accounts, released during its Annual General Assembly in November, World Sailing had forecast a surplus in 2020 of just over £10 million ($12.5 million/€11.5 million) owing to its expected Olympic Games payout of £12.24 million ($15.3 million/€14.1 million).
Without the IOC payment – the first installment of which is usually sent in the September after the conclusion of the Games – World Sailing could be looking at a deficit of around £2 million ($2.5 million/€2.3 million) for 2020.
Read the full story at Inside the Games.