The Hong Kong based South China Morning Post reports that . . .
‘Chinese official Li Quanhai looks set to become the new president of World Sailing after raising a hefty bankroll for his election campaign . . .
It is reported that Li has had the financial backing of Chinese mega property developer Evergrande, which promised to offer US$10 million as a sponsorship fee if the China mainlander wins the election.
The sponsorship money from China could help solve the body’s financial problems.’
Should Mr Li win the election, he would be the first China mainlander at the helm of a major Olympic sport.
Mr Li faced the incumbent President, Kim Andersen of Denmark, in a second round of voting which was completed on Friday 23 October, with one candidate clearly obtaining more than the required 50% of the votes.
The official announcement is to be made at the World Sailing general assembly on Sunday 1 November.