By Rob Fawdon from San Jose, Costa Rica, Aug 7, 2015: IAAF Presidential Candidate Seb Coe has today announced that IAAF Member Federations from Canada, France, Qatar, Russia, United Kingdom and the United States have shown their support for his proposed Olympic Athletics Dividend by waiving or investing their entitlement in order to help support Athletics development in nations that have a greater need.
Coe announced recently [24 July] that the Dividend, which is in addition to all existing IAAF grants, would be distributed among all 214 Member Federations if he is elected IAAF President on August 19. Totalling $22million over a four year cycle, the Dividend would be funded through approximately half of the quadrennial fee received from the International Olympic Committee [IOC] – the payments would be made directly by the IAAF to its Member Federations. This would equate to $100,000 per Member Federation over four years.
Speaking from the North American, Central American and Caribbean Athletic Association [NACAC] Senior Championships in San Jose, Costa Rica, Seb Coe said:
“Following conversations with IAAF Member Federations, I am delighted that a number of them have already agreed to waive or invest the Olympic Athletics Dividend that they would have received if I am elected IAAF President. This agreement was reached as part of their commitment to provide additional financial support to those countries most in need of funds. I’d like to offer my sincere thanks to these Federations for this generous gesture of solidarity and for their commitment to growing Athletics globally.”
“This is a great example of how we can work together as the Athletics family to invest in opportunities that fit with Member Federations’ specific priorities. It is important that revenues are distributed fairly and equally and by working collaboratively with Federations we can also ensure that those most in need have some additional financial support.”
“I have had some excellent feedback on the Olympic Athletics Dividend from colleagues around the world and continue to discuss global Athletics development with other countries who are interested to contribute. It’s great to be here in the NACAC region to discuss in more detail how the plan will benefit the Federations and meet their specific needs.”
Ed Warner, President of British Athletics said:
“Seb’s belief that the IAAF is only as good as its Member Federations has been reinforced by his Olympic Athletics Dividend. We endorse this wholeheartedly and will invest our dividend to support worldwide development of Athletics.”
Stephanie Hightower, President of USA Track and Field said:
“The Olympic Athletics Dividend is a great way to bolster our Member Federations’ ability to nurture and grow Athletics, which is why we support this initiative and will share ours for the benefit of others within the Athletics family. “
Bernard Amsalem, President of Fédération Française d’Athlétisme said:
“Having spent time with Seb to understand his thinking behind the new Dividend, France has decided to demonstrate our support for this initiative by waiving our dividend to show solidarity for other members of our Athletics family.”
Athletics Canada President Gordon Orlikow said:
“Canada is proud to play a leading role in NACAC. We applaud Seb’s proposal for an Olympic Athletics Dividend. Consistent with our belief that Seb is the right man to lead the IAAF into our future, we fully support his initiative to contribute our Dividend back so other nations with more pressing needs may benefit.”
About the Olympic Athletics Dividend:
The Olympic Athletics Dividend, which is in addition to all existing IAAF grants, would be funded through approximately half of the quadrennial fee received from the International Olympic Committee [IOC], and underpinned by a strategic review of existing IAAF structures and use of resources. This would be in alignment with the IAAF Strategic Plan and World Athletic Series Renovation Workshop project.
The first Olympic Athletics Dividend grant of $25,000 would be made to all Federations in Q1 2016 as recognition of the key role Athletics played in the success of the London 2012 Olympic Games. The next grant would be available in early 2017 reflecting the contribution from Athletics to the Rio 2016 Olympic Games. The Dividend will not breach the reserves policy of the IAAF or harm the financial health of the organisation, which has seen reserves grow under the leadership of current IAAF President Lamine Diack to $76m at the end of 2013.
The Olympic Athletics Dividend would be distributed to Federations for projects based on a number of core principles including:
Funds would be allocated against set objectives and criteria to enhance the work of the Member Federations based on their own strategic priorities
Robust internal structures would supervise the distribution of the Olympic Athletics Dividend which would be published in the IAAF’s independently audited accounts.