International Olympic Committee News

[Olympian1010 8,230]

This interesting. The YOG really is getting the short end of the stick...

 

[heywoodu 16,004]

That's surprisingly much for the group including the YOG, nice.

[Olympian1010 8,230]

4 hours ago, Olympian1010 said:

This interesting. The YOG really is getting the short end of the stick...

 

I’m okay with 50% of the IOC budget being about the Olympic Games, but really those need to be somewhat self-fundable to have a long future. I also think much more should go to athlete programs, sports science, and education; and less should go to IFs and NOCs.

[heywoodu 16,004]

12 hours ago, Olympian1010 said:

I’m okay with 50% of the IOC budget being about the Olympic Games, but really those need to be somewhat self-fundable to have a long future. I also think much more should go to athlete programs, sports science, and education; and less should go to IFs and NOCs.

 

A lot of the money that goes to NOCs is used for athlete programs and such inside countries instead of globally. The whole distribution seems pretty good actually.

[Wumo 3,023]

I stumble upon this interesting article on playthegame by Jens Weinreich about how dependent many IFs are on the revenues from the Olympics:

https://playthegame.org/news/news-articles/2020/0644_how-federations-share-the-revenues-from-the-olympic-games/

 

Some paragraphs from the articles:

"...In 15 of 28 federations, the share of IOC revenues is between 35 and 96 percent. Some of these international federations are therefore in a situation that threatens their very existence: Gymnastics, Boxing (already almost insolvent and banned), Rowing, Shooting, Weightlifting, Archery, Fencing, Hockey, Canoeing, Triathlon, Wrestling, Sailing, Taekwondo, Golf and Modern Pentathlon. (Golf is an exception. Because the IGF was basically founded only to supervise the sport at the Olympic Games.)"

 

"The best insurance comes from Russian billionaires
At least half of the 28 federations can draw on large reserves in an emergency. It is often around 20 to 30 million francs in Swiss accounts. These reserves can help them survive the crisis, even if the IOC will not pay anything in advance but only at the end of 2021.

However, some federations such as Weightlifting have been living on these reserves for years because they cannot cover their expenses from ongoing operations. The situation seems to be most dramatic in the ICF (Canoeing) and UIPM (Modern Pentathlon) with over 90 percent dependency on the IOC.

According to annual reports, two federations, Shooting (ISSF) and Fencing (FIE) have hardly any substantial marketing revenues apart from the IOC royalties. The ISSF also receives more than 90 percent from the IOC. But in times of need, Russian billionaire Vladimir Lisin will stand up for the ISSF.

"Shooting and fencing have the best insurance of all federations," said one IOC member.

In Fencing (FIE) the president, Russian billionaire Alisher Usmanov, already donates an amount almost big as the IOC shares (on average over a four year period). There is not that much audited information provided by FIE. But there is an interesting and telling part in a report from the congress in 2018, held in Paris and financed by Usmanov.

The FIE delegates discussed the 2017 revenues: 11,582 million CHF overall with 5,764 million CHF from IOC - and 4,950 million as a donation from Alisher Usmanov, of course.

"I think our federation deserves it," said the billionaire.

"Applause" followed, according to the congress minutes.

Usmanov then continued: "In any case, for the future we need to understand that at present the financing of our federation is primarily supported by the President’s donations."

 

It's astonishing to see how dependent some IFs are. I kind of knew for some IFs the revenues from IOC and the Olympics contributed to a large part of their overall economy, but to see IF's like ICF and UIPM who's entire revenue almost comes from the IOC alone is baffling. 

Also no suprise to see how a few billionaires basically keep some IFs single-handedly alive with their contributions beside the revenues they get from IOC. 

 

I'm also going to link this article by Liam Morgan from ITG:

https://www.insidethegames.biz/articles/1093690/federations-coronavirus-opportunity

[Olympian1010 8,230]

This is just bad. Why do international sports constantly shoot themsleves in the foot 

 

I swear if the ICF and ISSF go underwater 

[heywoodu 16,004]

Honestly, one can wonder if federations where over 90% (!) of their money comes from the IOC really deserve to keep being held upright by their hands..

[dcro 10,210]

Like I said some time before... Some federations are like those people who are desperately clinging to one thing they have in their life. And when that one thing goes to hell, then of course they have to follow the same path as well...

[Olympian1010 8,230]

12 minutes ago, heywoodu said:

Honestly, one can wonder if federations where over 90% (!) of their money comes from the IOC really deserve to keep being held upright by their hands..

Seriously. It can’t be that hard to make a little money from somewhere other than the IOC or some shady Russian billionaires...

[heywoodu 16,004]

7 minutes ago, dcro said:

Like I said some time before... Some federations are like those people who are desperately clinging to one thing they have in their life. And when that one thing goes to hell, then of course they have to follow the same path as well...

 

It makes me think of all kinds of obscure cultural things that get tons of government money just to stay alive....what's the goal if apparently they don't even nearly make enough money (meaning, just not enough people care) to be at least a bit self-sustainable?