Australia threatens to cut govt funding to top sports

Source:Reuters-Global Times Published: 2013-3-19 23:03:02

Australia will cut government funding to its top sports if they fail to bring governance standards up to scratch in the wake of the country's London Olympic Games flop and the release of a clutch of embarrassing reports.

The Australian Sports Commission (ASC), which holds the purse strings for sports down under, said swimming, cycling, athletics, sailing, rowing, hockey and basketball were the most well-funded sports and the first to see cuts of up to 20 percent if they failed to meet new mandatory standards. The standards included improving organization structures, the board election processes and gender balance, and having zero tolerance for any lack of transparency on how sports spend money. There will also be public company level requirements for sports financial reporting practices and proper supervision by boards of sports science practices.

"While good governance does not guarantee success, its absence almost certainly guarantees failure," ASC Chairman John Wylie said on Tuesday.

"The ASC believes that the Australian public has the right to expect that sports receiving significant taxpayer funding will be well run."

Governance shortcomings had been identified in both swimming and cycling "for failures in the competitive, business or ethical standards in those sports," the ASC said, adding that an additional A$5 million ($5.20 million) of funding would be up for grabs for sports that put their houses in order.

"This is a long overdue approach by John Wylie and we share his views on striving for excellence," Australian Olympic Commission President John Coates said.

"In a nutshell the taxpayers deserve to know they are getting bang for their buck when it comes to funding sport."

Reuters - Global Times



Posted in: Miscellany

blog comments powered by Disqus