$12.9M POST-CAREER FUND FOR ATHLETES

World Aquatics says programme borne out of 'a sense of concern and obligation'

- David Lee

Athletes who do well enough to win prize money at World Aquatics events will benefit from its new US$10 million (S$12.9 million) post-career compensation fund that is aimed at helping them cope with the transition into a new phase of life.

World Aquatics is the first international federation to introduce such a plan for its athletes, said its president Husain Al-Musallam when unveiling the initiative at the World Aquatics General Congress in Singapore on July 29.

On July 30, World Aquatics executive director Brent Nowicki gave details of the mechanism in a media session on the sidelines of the World Aquatics Championships (WCH).

Following a healthy 2024 financial report of US$107.83 million in revenue, US$51.17 million in net surplus as total assets increased to US$241.51 million, World Aquatics will make the initial US$10 million contribution to the post-career compensation fund and add US$1 million to US$2 million per year afterwards, in addition to monies raised from donors and sponsors.

Athletes across swimming, open water swimming, artistic swimming, diving, high diving and water polo need to compete at a certain number of their respective World Cups and world championships in the four years before their retirement to be eligible, following which they will receive a percentage (for individual events) or a fixed sum (for team sports) of their prize earnings at these events.