Gerardo Seeliger to the assault of a World Sailing that is on the brink of bankruptcy
Gerardo Seeliger to the assault of a World Sailing that is on the brink of bankruptcy
The WS is going through the worst financial crisis in history
COVID- 19 may have been the key to the critical economic situation of the World Sailing. The postponement of the Olympic Games and the lack of liquidity have the international federation of sailing against the ropes. Its President Kim Andersen is looking for a forward flight as a headless chicken, and his last idea is to delay the elections until after the Tokyo appointment of 2021.
Between Kim Andersen and the general director, Andy Hunt, until December 31, they have left the drawers empty, even the reserve fund that had the highest agency of the world sail on the Isle of Man and which in its day created the one that was Secretary General Arve Sundheim. That is why they are begging the IOC to give this year the money that would be spent on the World Sailing for the Olympic Games.
Mikkel Thommensen of Norwegian magazineSeilmagasinetHe spoke with one who is probably the most important vice president at the World Sailing, the Uruguayan resident in Spain, Scott Perry, who confirmed to the magazine that the current situation due to the coronavirus and the postponement of the Olympic Games, has caused the situation of the federation to be precarious and where he asks that if at some times there have been disagreements within the board on some provisions, now it is time to join and assume collective responsibility.
Perry is clear that four measures have to be taken urgently to save the World Sailing, including the reduction of employees' wages by 20 per cent, the renegotiation of the London office lease and the advance payment of the IOC.
World Sailing has a brutal ten-year rental contract for his office at a rate of £500,000 a year, of which he still has seven years. They currently pay for rent, maintenance and expenses, approximately four times the price of the associated offices in Southampton. This lease expired in 2017 and World Sailing had to find other offices. The choice at that time was between Lausanne, Monaco and two Spanish cities in addition to London.
Rent in London has been paid until the end of June this year and is expected to arrive before a solution associated with life in the future.
World Sailing hopes to reach an agreement with IOC where one quarter of the estimated amount after the 2020 Olympic Games is now paid in August. According to Gerhard Heiberg with whom Seilmagasinet has spoken, this is impossible. Heiberg is no longer a member of the IOC board, but as a former head of the IOC market commission, he is well aware of the procedures. In addition, the additional costs of postponing the Olympics will have to be shared between the Tokyo Olympic Committee and IOC and, therefore, there is now no security that this payment can be made before the JJ.OO. have been held.
Gerardo Seeliger an option in value to avoid the failure of the WS
Scott Perry admits to Sail magazine that a bankruptcy in World Sailing can be inevitable, especially if one does not find a satisfactory solution with the owner in London. The Spanish Gerardo Seeliger, who has announced his intention to present himself to the selections in front of Kim Andersen, has said on several occasions that bankruptcy must be avoided at all costs. World Sailing has not replaced Andy Hunt, who resigned from office just before the annual meeting in Bermuda in November last year and was effective by the end of 2019. He had an annual salary of 3 million. The lack of income is beginning to be precarious, and Perry explains that it is expected to have a new CEO before summer, and with a significantly lower salary than Hunt charged. No doubt a very black future that World Sailing is waiting for, but like everything in life, everything is possible, and Gerardo Seeliger trusts to be able to set the course of the world candle.
Jaume Soler
Journalist
www.jaumesoler.net
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