Chinese official set to win election and become president of World Sailing with a big bankroll
- Li Quanhai could become the first president from China of a major Olympic sporting body
- Hong Kong’s Tong Yui-shing also runs for vice-president position with results to be announced this week
Chinese official Li Quanhai looks set to become the new president of World Sailing after raising a hefty bankroll for his election campaign – Hong Kong’s Tong Yui-shing is in line for the vice-president position.
The election for the world governing body chief was completed over the weekend as the mainlander and the incumbent, Kim Andersen of Denmark, faced-off in a second-round battle.
And it is believed Li, who has been the vice-president of World Sailing since 2013, received the required number of ballots (over 50 per cent of votes) from the organisation’s 128 member nation authorities. An official announcement is to be made at the general assembly on Sunday.
It is reported that Li has had the financial backing of Chinese mega property developer Evergrande, which promised to offer US$10 million as a sponsorship fee if the mainlander wins election.
World Sailing is facing acute financial challenges. A report in April claimed the world body would have a deficit of £1.3 million in a “worst case scenario” mainly as a result of non-recurring expenses during the period from 2017 to 2020, which included a headquarters relocation from Southampton to Paddington in London. At that point, the world body had a major four-year sponsorship deal with Gazprom from Russia but unfortunately, the multinational energy corporation headquartered in St Petersburg pulled the sponsorship after one year.
The sponsorship money from China could help solve the body’s financial problems.