World Aquatics has moved into the ‘final stage’ of negotiations to move its headquarters to Budapest, Hungary, and received approval of the organization’s General Congress on Tuesday to do so.
The move comes just five years after World Aquatics (then FINA) opened its new headquarters in Lausanne, the Olympic capital, where 15 other governing bodies and the International Olympic Committee are headquartered.
The organization that governs six disciplines of aquatic sport says that they will leave some pieces behind in Switzerland, including the Aquatics Integrity Unit and the newly-created World Aquatics Foundation. That foundation will spin-off the group’s development and training, learn-to-swim programming, coach development, and official development program. The foundation’s aim is “in particular programmes that use aquatic sports as a tool for social betterment.”
The move is being justified, in part, by the expense of maintaining a headquarters in Switzerland, which is one of the most-expensive countries in the world to live in.
World Aquatics operated at a significant financial deficit in 2022. The group had a more-than-$4 million operating loss last year, with a further $12.3 million loss from Financial Activities, netting out to more than $16.3 million in losses. Fortunately, the 2021 numbers were positive in the opposite direction at $17.6 million.
But that leaves World Aquatics with only $8.2 million in free capital, so another year like 2022 in 2023 would leave the group in debt.
The organization reported $1 million in office costs last year.
“World Aquatics has had a very close relationship with the City of Lausanne since first establishing an office there in 1986, and it is a relationship that I am very committed to continuing long into the future,” World Aquatics President Husain Al-Musallam said. “The new World Aquatics Foundation, based in Lausanne, will benefit aspiring athletes in every corner of the world. In addition, Lausanne will be the home of the Aquatics Integrity Unit, which is central to overseeing our good governance. I am delighted that Lausanne will continue to be such an important base for World Aquatics.”
“Moving our headquarters is not a decision that we take lightly, but the new opportunities that it will give to us and our athletes are very clear for everybody to see,” said Al-Musallam.
“I am so grateful to the Hungarian Government and the Hungarian aquatics family for their understanding of the importance of the development of our sport worldwide.
“Hungary has a deep love of aquatics and I am glad that they want to work with us to help athletes from every corner of the world.
“The focus of the new headquarters will not be offices. It is all about our athletes, our current athletes and our future athletes.
“When you walk through the door of the new building, you will not see the President’s office.
“You will see water. You will see superb training facilities. You will see accommodations for your athletes. This is a project fro the whole world.”
Budapest hosted the 2017 World Championships and an ad hoc 2022 edition, and has also been scheduled to host the 2027 World Championships and the 2024 World Short Course Swimming Championships. The city is home to a number of large aquatic facilities, most prominently the 5,000-seat indoor Duna Arena and the 8,000-seat outdoor Alfred Hajos National Swimming Stadium.
World Aquatics signed a memorandum of understanding with the government of Hungary to move the headquarters in May.
Budapest is closer to Russia, and corruption is easier to achieve there . Perfect for FINA
Hopefully they won’t be employing too many gay or even non-white staff or athletes there cos it’s not the friendliest environments for those groups..
So, I was watching the live feed on my computer of the 2017 Worlds from Budapest. Couldn’t understand what the announcer was saying, but you could just feel the enthusiasm of this country and its fans for swimming. Seems like they did an awesome job as a host. Good for World Aquatics to move to a more economical location. Why not just hold World Championships in Budapest every year? It is such an onerous and expensive event, so go with a country that already made the investment and let other countries pitch in to help cover some of the costs of hosting. Interesting how Australia bailed on Commonwealth Games and many countries aren’t exactly excited to host the Olympics. Model… Read more »