Details of the IOC loan to World Sailing >> Scuttlebutt Sailing News
For Olympic sports, their International Federations (IFs) receive a payment from the International Olympic Committee (IOC) every four years after the games. For most IFs, this money is a huge percentage of their budget, and with the one-year postponement of Tokyo 2020, payment has also been delayed.
To help run their sports over the next 12 months, the IOC has already provided National Olympic Committees (NOCs) and IFs with around US $ 100 million since the outbreak of the COVID-19 crisis.
In this report from InsidetheGames, they share the terms received by World Sailing:
(July 15, 2020) – New details have emerged about the loan World Sailing has secured from the International Olympic Committee (IOC) under the aid package estimated at $ 150m (£ 117m / £ 129m ‘euros) for the Olympic Movement brought together by the Lausanne Organ in the wake of the postponement of Tokyo 2020.
According to World Sailing, the loan is interest-free and repayable in six equal annual installments from December 31, 2021. It can be drawn over the period from June 2020 to April 2021.
The information is contained in the 2019 accounts of World Sailing (UK), a subsidiary which provides administrative and technical services to the governing body.
These have just been filed with Companies House, although the document does not specify the actual amount of the IOC loan. However, the new details may be of wider interest, as it seems possible that similar terms may have been proposed by the IOC to other International Federations (IFs).
IOC President Thomas Bach today revealed that the IOC has allocated US $ 63 million in loans and grants to a total of 20 IFs since the start of the COVID-19 crisis. This averages out to just over US $ 3 million each. Full report.
Tokyo Olympic Sailing Program
Men’s single-seater sailing dinghy – Laser
Single-seater sailing dinghy for women – Laser Radial
Men’s two-seater sailing dinghy – 470
Women’s two-seater sailing dinghy – 470
Men’s single scull – 49er
Women’s single scull – 49erFx
Single-person heavy dinghy for men – Finn
Windsurfing for men – RS: X
Windsurfing for women – RS: X
Mixed Multihull – Nacra 17
Original dates: July 24 to August 9, 2020
Revised dates: July 23 to August 8, 2021