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Usmanov Gets New Term as FIE President, as Sofia Awarded 2014 Senior World Championships |
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Fencing - 10 Dec 2012 - Alisher Usmanov, the Russian billionaire, was, as expected, re-elected for a second four-year term as president of the FIE, the international fencing federation at the weekend.
Usmanov was unopposed in the election at the FIE’s congress in Moscow.
The FIE also chose Sofia, the Bulgarian capital, to host the 2014 FIE Senior World Championships. The 2013 Junior and Cadet World Championships will be held in Porec in Croatia, while Varna in Bulgaria will host the 2013 Veterans World Championships.
Usmanov said after the elections: “Today’s decisions lay the main foundations for the development of fencing over the coming years. The congress has set concrete goals and developed processes to achieve them.
“I am grateful for the delegates’ support for re-electing me as president of the FIE. I consider this decision as recognition of the results achieved so far, and above all as an endorsement of my strategy to develop fencing on a global level. We have a lot of work to do and the FIE is facing challenging tasks. I am certain that the 100th anniversary of fencing in 2013 will be a year of success, accomplishments, and the start of a new phase of the sport’s evolvement.”
Usmanov, who is the majority shareholder of Russian industrial conglomerate Metalloinvest, also owns 30 per cent of Arsenal, of English soccer’s Premier League.
On assuming the presidency of the FIE in 2008, Usmanov promised to significantly boost the sport’s finances and he has been as good as his word, with about $4.5 million of the federation’s annual budget of $7.5 million coming from a foundation established by Usmanov, and from some other sponsors.
Usmanov told Russia’s R-Sport: “In 2008, it [the budget] was €8 million [$10.3 million] for four years. Today, the federation has €5 million per year, plus additional expenses made from extra budgetary sources, like the Fencing Development Fund and sponsorship money.”
The federation’s other sources of revenues are a contribution from the International Olympic Committee’s commercial revenues, amounting to about $2.5 million, and the remaining $500,000 from membership fees. The federation also has $10 million in reserve.
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