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Wednesday, November 9, 2016

FINA's Financial Strength And Uses Of Money

Courtesy of George Block, World Swimming Coaches Association.

In this era where a handful of pool swimmers earning millions of United States dollars for their accomplishments and achievements and numerous other competitive pool and open water swimmers earn enough money to define themselves as professional athletes, George Block of the World Swimming Coaches Association compiled and culled the following data from FINA's 2015 written report:

1. FINA has a little more than US$97,000,000 cash on hand.
2. The IOC has become a minor contributor to the FINA budget.
3. Leveling income over 4 years shows an income amount of about US$44,000,000 per year.
4. FINA realized US$66,000,000 in revenue in 2015.
5. A profit of US$14,700,000 was shown in 2015.
6. US$5,600,000 was spent on the FINA Family including travel, hotels, meals, airfares for meetings, etc.
7. US$5,700,000 was given to athletes as prize money at the FINA World Championships.
8. US$5,200,000 was used for payroll of 26 staff, an average to US$186,000.
10. FINA allocates US$1,000,000 for development of the sport.

"FINA exists on the backs of swimming athletes and pays them a pittance for earning FINA US$97 million in the bank," observed John Leonard, Executive Director of the World Swimming Coaches Association.

Copyright © 2016 by World Open Water Swimming Association

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