SAN FRANCISCO (#1258) — World Sailing is already saddled with a multi-million GBP deficit due to the incompetence of the former non-sailing CEO (fired late last year), and the President who remains, Kim Andersen (DEN).
Sadly, it's going to get worse for World Sailing and Mr. Andersen. The expected post-Olympic TV revenues will now be delayed at least a year, forcing WS to try to borrow even more money to keep from sinking into insolvency. Reportedly, some emergency money will flow from the IOC and the equivalent of "business interruption insurance," but it won't come close to covering the existing deficit and already scaled-back WS operation headquartered in their large and expensive offices in one of the priciest parts of London — in one of the most expensive cities in the world.
Now comes this report via the closely-watched (by Olympic officials and beyond) InsideTheGames.biz, website headlined, "Tokyo 2020 chief warns federations of "major challenge" in deciding who covers extra costs." Excerpt:
Tokyo 2020 President Yoshirō Mori has warned International Federations that deciding who covers the additional costs arising from the postponement of the Olympic Games will be a "major challenge" in the lead-up to the rescheduled event.
In a letter to the 33 Federations on the Tokyo 2020 programme, seen by insidethegames, Mori references the financial implications of delaying the Games until at least the summer of 2021.
"The extra cost that will arise from this postponement is inevitable," Mori writes.
"Deciding who will bear these costs and how it will be done will be a major challenge."
A difficult time for many around the world, even more so for the beleaguered Mr. Andersen.
Hopefully, Mr Andersen will not run for re-election in November; or, if he does, that he will be defeated by Gerardo Seeliger (ESP) who has already declared his candidacy, or another similarly good international sailing leader/diplomat who will return World Sailing to the valuable and effective service organization it was for over a century.
Indeed "Chaotic Kim" should resign now, clearing the way for one of the good Vice Presidents, of which there are several, to take over. One hears Mr. Andersen might be forced out before November — mark my words, you heard it here first.
Bottom line (no pun intended): WS needs fresh, new leadership, and needs it now.
As always, more on next Tuesday's TFE LIVE at 1300 Pacific / 2000 UTC. Watch it live on our Sailing Illustrated Facebook page, or a replay there later.