The International Ski and Snowboard Federation (FIS) was projected to deplete its cash reserves by 2028 and has recently implemented job cuts in conjunction with introducing new events to improve its financial standing. The organization’s plan to avoid anticipated annual deficits of 20 million Swiss francs ($24 million US) was outlined during meetings held this week, following the election of new president Alexander Ospelt from Liechtenstein by a narrow margin.
Growing concerns over expenditure during Johan Eliasch’s five-year presidency, the head of the Head ski and sportswear brand, were pivotal in the June elections. Interim secretary general of the ski body, Urs Lehmann, emphasized the seriousness of the situation stating, “We are in a serious situation, not a desperate one,” during an interview at the Geneva gathering.
As part of the financial restructuring, the FIS closed its office in Munich and reduced race prize money subsidies that were initiated during the COVID-19 pandemic. This financial reset affects the governance of alpine and cross-country skiing, freestyle and snowboarding, ski jumping, and Nordic combined disciplines.
Top earners in the World Cup races across FIS disciplines last winter were notable figures in alpine skiing who also secured overall titles. Switzerland’s Marco Odermatt garnered 741,000 euros ($832,000) in prize money, with Mikaela Shiffrin leading the women’s earnings with 615,000 euros ($690,000). These earnings were partly supported by FIS funds that were introduced during the pandemic but are no longer sustainable.
Urs Lehmann, a former men’s downhill world champion for Switzerland, highlighted the challenge of reducing expenses once they are increased and emphasized the necessity of expanding competitions to maintain and enhance athlete prize money. He expressed confidence in the potential for more races at additional venues to drive revenue growth.
Anticipating a shortfall in reserves by the end of the 2028 winter season, the FIS informed its member federations of the need for a collective effort to address the financial challenges. The organization acknowledged past overspending and the need for streamlining operations by reducing staff numbers. Long-term broadcast and commercial contracts are expected to stabilize the financial situation gradually, with Lehmann underscoring the importance of unity within the FIS community for the success of the restructuring plan.