Just in time for International Olympic Day – Tuesday 23 June – the International Olympic Committee (IOC) has announced the award of financial support to International Sports Federations.
International Olympic Day marks the founding of the modern Olympic Games by Pierre de Coubertin and the setting up of the International Olympic Committee (IOC) on 23 June 1894.
It is not known how much World Sailing has received, but at a recent Executive Board online meeting IOC President Bach said the IOC would set aside up to $150 million (£120 million/€133 million) to support international federations, national Olympic committees, and other IOC-recognized organizations.
It is thought that the IOC payment would equal what World Sailing had been expecting from its share of the Tokyo 2020 revenue in September, around $15.1 million (£12.24 million/€13.9 million).
The World Sailing statement sets the financial support on a very personal basis:
The IOC is supporting World Sailing in addressing the challenges caused by the COVID-19 pandemic and the consequence on postponing the Tokyo 2020 Olympic Games.
‘In the challenging times experienced as a consequence of COVID-19, World Sailing has engaged with the IOC on how best to address the impact experienced within the sport with detailed and transparent discussions. The support and dialogue underlines the outstanding partnership shared between the IOC and World Sailing.
“Receiving the support and the encouragement from IOC President Dr. Thomas Bach means a lot for World Sailing,” commented World Sailing President, Kim Andersen. “I am looking forward to continuing the great partnership between the IOC and World Sailing with a focus on our great sport and our sailors.”
The financial support will enable World Sailing to continue plans for developing and promoting sailing worldwide and delivering the highest standards for the Tokyo 2020 and Paris 2024 Olympic Games. Furthermore, World Sailing will continue to develop formats in line with the IOC Agenda 2020 and the World Sailing Strategy with gender equality and sustainability strategies as a strong focus for promoting the sport in the future.’