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≡ FIE FINANCIAL CROSSROADS ≡
The Federation Internationale d’Escrime (FIE) has had, for many years, one of the strangest financial positions in the entire Olympic Movement.
Starting with the first election of Russian billionaire Alisher Usmanov as President in 2008, the federation’s marketing and commercial promotional efforts were quickly reduced to zero and Usmanov personally donated CHF 87,158,404 (about $98.489 million U.S.) over 13 years, to 2021.
But the donations stopped after the Russian invasion of Ukraine in February 2022, as Usmanov was placed on multiple sanctions lists. He stepped down from the duties of FIE President, but re-surfaced in late 2024 long enough to be re-elected for a fifth term by 120-26 last December.
He immediately stepped back again and Egypt’s Abdelmoneim ElHusseiny has been appointed as the Interim President.
But without Usmanov’s financial support, the FIE now faces significant financial challenges, dependent even more on the quadrennial television rights payments from the International Olympic Committee.
This is highlighted in the documentation for the 22 November 2025 FIE Congress to be held in Manama (BRN), including interesting financial reports, audited financial statements and budgets for 2026.
In short, the FIE is at a crossroads and has to break out of its self-imposed (Usmanov-imposed?) shell, soon.
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The FIE’s financial position got steadily worse after Usmanov stopped donating, with almost no revenue (all figures in CHF; 1 CHF = $1.26 U.S.):
2022:
● CHF 508,432 operating revenue
● CHF 1.273 million total revenue including investment gains
● CHF 7.617 million expenses
● CHF 6.758 million loss
● CHF 28.529 million reserves
2023:
● CHF 599,253 operating revenue
● CHF 1.756 million total revenue including investment gains
● CHF 8.288 million expenses
● CHF 6.533 million loss
● CHF 21.996 million reserves
2024 (Olympic year):
● CHF 674,022 operating revenue
● CHF 1.652 million revenue from investment gains
● CHF 12.704 million revenue from IOC television rights
● CHF 15.029 million total revenue
● CHF 6.740 million expenses
● CHF 8.951 million surplus
● CHF 30.946 million reserves
For 2025, the budget shows another loss coming:
● CHF 518,100 operating revenue
● CHF 1.650 million revenue from IOC television rights (remainder)
● CHF 2.168 million total revenue
● CHF 6.820 million expenses
● CHF 4.652 million loss
● CHF 26.294 million reserves (projected)
And the Congress documentation has the 2026 budget included, with more losses, but a startling turnaround in revenue:
● CHF 8.437 million operating revenue
● CHF 14.260 million expenses
● CHF 5.823 million loss
● CHF 20.471 million reserves (projected)
Now, the losses keep coming as expenses went way up – by 209% – thanks to more federation projects, more prize money and more marketing efforts. But the FIE is now expecting a staggering expansion of its sponsorship revenue from zero to CHF 7.5 million, and an overall rise in commercial revenue from CHF 40,000 to 7.87 million, a 19,575% increase in 2026.
Wow.
And if the sponsorship revenues do not come through … then the FIE is looking at enormous loss and reserves of perhaps two years of operating costs (maybe) before receiving more IOC money at the end of 2028.
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The FIE’s finances demonstrate the challenges in reliance on IOC television rights money when the federation does not generate enough operating revenue.
It has decided that it has to join the modern world of sponsorship sales to survive, and surely the silent Usmanov agrees with this. But to go from absolute zero to CHF 7.5 million ($9.45 million U.S.) in a year is more than ambitious.
Many other federations, not to mention the IOC in Lausanne, will be watching what happens closely in 2026.
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