LAUSANNE - The postponement of the Tokyo Olympics and the shutdown of the sporting calendar because of the coronavirus pandemic are going to hit international sports federations hard financially.
The 28 international federations of the sports that were due to be present at the Tokyo Olympics, would have received substantial sums from the IOC.
For group three, which contains eight sports, including boxing, rowing, judo and table tennis, it is US$17 million.For the three in the last category the payout is US$7 million. The International Swimming Federation will have to do the same for its World Championships scheduled for next summer in Fukuoka, Japan, when they would probably clash with the Tokyo Games.
The Singapore-based International Table Tennis Federation has already taken steps, with"the Executive Committee agreeing to reduce their expenses and senior staff offering to take a salary reduction," said marketing director Matt Pound, but, he added,"further cuts will take place if needed."Kim Andersen, the Danish president of London-based World Sailing, said commercial revenues are not immune.
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