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≡ INTEL REPORT ≡
An amazing – but pre-planned – turn of events for the Federation Internationale d’Escrime (FIE), which elected Russian billionaire Alisher Usmanov to a fifth term by 120-26 on 30 November, but with Usmanov essentially abdicating his position a day later:
This stunner was posted on Wednesday on the FIE Web site:
“The Executive Committee of the FIE met on 1 December 2024 and was informed of Mr Alisher Usmanov’s decision to voluntarily suspend the exercise of his powers and duties as President of the International Fencing Federation in order to ensure efficient operations of the federation.
“The Executive Committee has accepted and ratified Mr Alisher Usmanov’s decision to suspend the exercise of his powers and duties as President of the FIE.
“In accordance with Article 5.1 of the FIE Statutes, under which the management of the FIE in between Congresses is entrusted to an Executive Committee, and in order to ensure the smooth running of the FIE, the Executive Committee appointed Mr Emmanuel Katsiadakis as Interim President.
“Mr Emmanuel Katsiadakis has accepted. As Interim President, he will therefore assume all the functions of the President of the FIE, as provided for in the FIE Statutes and other regulations.
“The Executive Committee’s decision will be submitted to the FIE Congress for ratification at its next meeting.”
Katsiadakis, from Greece, has served as the interim FIE President since Usmanov stepped back from his position as President due to sanctions imposed soon after the Russian invasion of Ukraine in February 2022. And he is again.
With Usmanov’s declaration to self-suspend coming a day after the election, this was obviously all planned well in advance. Officially, he was nominated by 103 member federations.
So the FIE will continue operate as it has since 2022, with Katsiadakis in charge. Usmanov said he did this to avoid sanctions – related to him – being imposed on the FIE.
One observer also explained the election and suspension is “to prevent anyone from leading the sport” and maintaining it as it is for Usmanov to pick it up – perhaps – at some time in the future.
Usmanov, with interests in mining, metals and telecommunications, has been financially upholding the FIE since he was originally elected as President in 2008. A review of the FIE financial statements shows that since 2008, he has directly donated CHF 87,158,404 or $98,488,997 to the FIE through 2021 (CHF 1 = $1.13 U.S.):
● 2021: CHF 6,534,500
● 2020: CHF 5,000,000
● 2019: CHF 4,854,500
● 2018: CHF 16,335,000
● 2017: CHF 4,950,000
● 2016: CHF 4,850,000
● 2015: CHF 7,312,400
● 2014: CHF 1,000,000 (last six months)
● 2013-14: CHF 4,310,751
● 2012-13: CHF 9,976,749
● 2011-12: CHF 5,326,004
● 2010-11: CHF 6,201,500
● 2009-10: CHF 4,916,000
● 2008-09: CHF 5,591,000
Those contributions apparently stopped in 2022 with the Russian invasion of Ukraine, but the FIE has not publicly posted its financial statements since those covering 2021. As of the end of 2021, the FIE had CHF 37.02 million in assets and CHF 35.29 million in reserves. It had total expenses in 2021 of CHF 8.12 million.
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