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FINA

Courtesy of John Leonard, American Swimming Coaches Association, Florida.

In this era where a handful of pool swimmers earning millions of United States dollars for their accomplishments – from Michael Phelps to Katinka Hosszu and achievements and numerous other competitive pool and open water swimmers earn enough money to define themselves as professional athletes – from Haley Anderson to Ana Marcela Cunha, George Block of the World Swimming Coaches Association compiled and culled the following data from FINA’s financial 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.

John Leonard of the American Swimming Coaches Association and Some numerical accounts tell the entire story of an organizations purpose and intent, regardless of the rhetoric they employ to the opposite effect.

For the Period 2013-2016, The FINA financial accounts (and this is self-reported, so if anything it is likely WORSE, since in Switzerland there is no requirement for any International Federation to report its financial condition….and track and field and gymnastics DO NOT report at all…)

Expenses for “FINA FAMILY” for hotels, travel and Per Diems – $18 Million Dollars.
Expenses for Out of Competition Drug Testing – $4.2 Million Dollars.
Expenses for “Development Activities” – $3.5 Million dollars. (keep in mind that “development” in FINA speak includes bringing Federation officials to the World Champs and Congress…hardly “sport Development”, so this really belongs under “FINA Family”.)

How you spend your money shows what you consider important.

All the Best, JL

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