Governing Bodies
CORONAVIRUS OUTBREAK: OLYMPICS HAVE A $1.2 BILLION RESERVE FUND FOR CANCELLED GAMES
As the International Olympic Committee looks ahead to the Summer Games with trepidation, it does have something that could cushion the blow in case of cancellation: a US$897 million (S$1.2 billion) reserve fund to help finance global sports.
It’s an improbable scenario, but one drawing more consideration at the coronavirus continues to spread around the world. A number of global sporting events and Olympic qualifiers have been cancelled, and many are now wondering how the outbreak might effect the 2020 Summer Games in Tokyo, scheduled to start at the end of July.
The fund was established as a backstop for international sports federations that rely on the IOC to balance their budgets, said Mr Dick Pound, the organisation’s longest-serving member. That’s not soccer or basketball, but smaller sports like judo, volleyball and water polo.
Part of the IOC’s broader risk management strategy, the fund was established in 2001 with US$105 million. It had grown to US$422 million by 2008.
“It’s a significant number, and would keep all the balls in the air if we actually missed a games,” Mr Pound said in an interview.
CASES SURGE
Coronavirus cases have surged to more than 80,000 worldwide, with new hot spots in Italy, South Korea and Iran in addition to the epicentre in China.
The World Health Organisation has held off on declaring a global pandemic, but stock prices have plunged and bond yields have soared as investors worry about a further spread.
For now, the Olympic movement is moving forward with its plans for Tokyo. The US Olympic & Paralympic Committee has suggested a limit on all non-essential travel to China, Hong Kong and Singapore, but has informed its teams to continue training and preparing as planned.
On Tuesday, the committee sent an updated e-mail to its teams advising them on the latest virus fallout, including event cancellations in both Italy and Iran and strict travel
We don’t yet know the full impact of the new developments on Team USA athletes and staff,” the committee said in the memo.
Japanese politicians have also said there are no plans to move or cancel the games.
“The preparations for the Olympic Games Tokyo 2020 continue as planned,” the IOC said in a statement.
“Countermeasures against infectious diseases constitute an important part of Tokyo 2020’s plans to host a safe and secure games.”
The committee said it has full confidence that the authorities, “in particular in Japan and China, will take all the necessary measures to address the situation.”
The IOC made US$5.7 billion in its last four-year Olympic cycle, which included the 2016 Summer Games in Rio de Janeiro and the 2018 Winter Games in PyeongChang, South Korea.
Of that total, 73 per cent came from broadcast rights and 18 per cent from top-level sponsors.
That money goes in part toward mounting the Olympic Games, and in part to national and international governing bodies to help fund athletes around the world.
For the Summer Games in Rio, for example, the IOC distributed US$540 million to international federations and another US$540 million to national Olympic committees.
The reserve fund is just part of the IOC’s risk management stores. The organisation also has US$647 million in assets set aside from TV money, in case it needs to refund parts of those contracts; US$261 million to cover deficits in its main sponsorship programme; and US$447 million to help cover distribution to national Olympic bodies.
Mr Pound, who has been an IOC member since 1978 but isn’t involved in day-to-day management, said the organisation isn’t in any immediate rush to make a decision on the games.
He said late May, two months out from the opening ceremony, will likely be the point at which the entire Olympic movement needs to know if the games will be cancelled or postponed.
“This is the most dangerous threat to the Olympics other than a state of actual war,” Mr Pound said. “This is the new war scenario.”
FIFA’s independent Ethics Committee has banned former Guyana Football Federation (GFF) General Secretary Ian Alves from all football-related activities for five years after finding he sexually harassed female staff members.
FIFA also fined Alves 20,000 Swiss francs ($22,000) after determining that he had breached provisions of the FIFA Code of Ethics relating to the protection of physical and mental integrity, abuse of position and general duties.
“FIFA has a strict stance against all forms of abuse in football,” the organisation said on Monday.
The decision followed a review of written statements from the victims, documents provided by the GFF, submissions from Alves, and other evidence gathered during the investigation.
Alves stepped down from his position in 2024.
The ban came into force on Monday, when the terms of the decision were notified to Alves, and the full grounds for the ruling will be communicated within 60 days in accordance with the Code of Ethics, FIFA added.
The GFF did not immediately respond to a Reuters request for comment. Alves could not immediately be reached for comment.
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FIFA President Gianni Infantino said on Thursday that he planned to seek re-election for a fourth term in a bid to continue to lead the governing body of world soccer.
Infantino confirmed he would run for the 2027–2031 term in the closing moments of the FIFA Congress in Vancouver, which comes less than two months before the start of the World Cup.
The election will be held on March 18 in Morocco, which is set to co-host the 2030 World Cup.
Infantino said he was “honoured and humbled” to have the chance to run for a fourth term.
The Italian-Swiss took office in 2016, replacing Sepp Blatter, and was re-elected unopposed in 2019 and 2023.
Infantino has pushed for the expansion of FIFA competitions during his tenure, with this year’s World Cup in North America the first to feature 48 teams, while the women’s tournament in 2023 has been expanded to 32 teams.
Infantino’s tenure has also drawn some criticism over issues such as high World Cup ticket prices and the decision to award the inaugural FIFA Peace Prize to U.S. President Donald Trump at the World Cup draw in December.
Earlier this month, the council of South American football’s governing body (CONMEBOL) said in a statement it would unanimously support the 56-year-old if he decided to seek another term.
-Reuters
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The supporters of Vancouver Whitecaps, a professional football (soccer) club in Canada, have staged a protest outside the FIFA Congress on Thursday, voicing fears that the Major League Soccer club could be relocated as uncertainty deepens over its ownership and long-term future.
The club is one of Canada’s most historic football institutions and has long been a central part of Vancouver’s sporting identity.
Around 100 fans gathered as delegates arrived for the annual FIFA meeting in Vancouver, chanting, singing and waving club flags in a show of solidarity. The demonstration comes just days after Vancouver Whitecaps FC revealed difficulties in securing a buyer willing to keep the club in the city.
The Whitecaps disclosed earlier this week that “stadium economics, venue access and revenue limitations” have complicated efforts to sell the club, despite a 16-month search for new ownership.
Season ticket holder Derek Hawksworth said supporters felt compelled to act amid growing fears of relocation.
“I wanted to come down given the threat of the team possibly moving,” he said. “It’s a rich history with the Whitecaps in North America… we want Vancouver to stay and not relocate. The history is here, and we want to continue with that history moving forward.”
The Vancouver Whitecaps are a professional football (soccer) club based in Vancouver, Canada. They currently compete in Major League Soccer (MLS), the top-tier league in the United States and Canada.
Concerns were heightened by reports that cities such as Las Vegas and Phoenix are leading contenders should the club relocate.
Vancouver Mayor Ken Sim has urged intervention, calling on the provincial government — which owns BC Place — to negotiate a “bridge deal” that would allow the team to remain while plans for a new stadium are explored. The club’s current lease at BC Place expires at the end of the year.
Despite the off-field uncertainty, the Whitecaps have been one of the standout teams this MLS season. They currently sit second in the Western Conference with 24 points from nine matches, just three points behind the San Jose Earthquakes.
For supporters, however, performances on the pitch offer little comfort as the future of their club hangs in the balance — a situation they hope global football leaders gathering in Vancouver will not ignore.
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