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≡ FIG FINANCIAL REPORT ≡
Gymnastics is one of the three most popular sports in the Olympic Games, based on the interest shown by attendance, television viewers, media reportage and social-media interest surveys produced for the International Olympic Committee.
Because of this, the Federation Internationale de Gymnastique (FIG) is in the first tier of federations – FIG, World Aquatics and World Athletics – which receive the most money from the IOC’s distribution of television rights fees via the Association of Summer Olympic International Federations.
But it is by far the poorest of those three federations, judging from its latest financial statement, covering the calendar year 2024. The report shows amounts in Swiss francs (CHF 1 = $1.12 U.S. according to the exchange used):
● CHF 16.98 million in total revenues (~$19.02 million U.S.)
● CHF 21.53 million in total expenses (~$24.12 million U.S.)
● CHF 4.55 million loss (~$5.09 million U.S.)
The surprise is not in the annual loss; like many Olympic federations, FIG absorbs big income in the year of an Olympic Games from the IOC television revenue, then spends it down over the next three years until the next IOC transfer comes. FIG had a surplus of CHF 10.21 million in 2021 from the delayed Tokyo 2020 Games, then had losses of CHF 2.46 million for 2022 and CHF 901,000 in 2023, and then again for 2024.
The surprise is that despite being so popular during the Olympic Games, that the FIG is unable to translate this interest – especially in women’s artistic gymnastics – into income in non-Olympic years. Compare FIG revenues to the other two top-tier federations: World Aquatics and World Athletics from 2021-23 (2024 statements not yet available for the other feds):
● FIG 2021: CHF 34.07 million or $38.16 million U.S.
● FIG 2022: CHF 20.99 million or $23.51 million U.S.
● FIG 2023: CHF 17.78 million or $19.92 million U.S.
● Total: $81.59 million U.S.
● Aquatics 2021: $62.12 million
● Aquatics 2022: $30.65 million
● Aquatics 2023: $76.11 million
● Total: $168.88 million
● Athletics 2021: $83.47 million
● Athletics 2022: $49.44 million
● Athletics 2023: $54.79 million
● Total: $187.70 million
Further to this disparity is that FIG’s documents show no payments of prize money at its World Championships – artistic, rhythmic, trampoline, acrobatic or others – where aquatics and athletics pay millions. For the 2023 Worlds:
● Aquatics: $5.670 million prize pool (1-8: $20,000 down to $2,000)
(this includes swimming, open water, diving, artistic and water polo)
● Athletics: $8.498 million prize pool (1-8: $70,000 down to $5,000)
The absence of prize money for the World Championships in gymnastics is all the more odd since small prizes are paid for events like the FIG Artistic World Challenge Cup for places 1-8: CHF 800-600-400-300-250-200-150-100! But those are paid by the host federation and not by the FIG.
Given its size and modest revenues, FIG maintains a conservative financial outlook and showed assets of CHF 68.829 million at the end of 2024, up from CHF 48.046 million, thanks to its “Olympic dividend.” It had reserves of CHF 27.656 million (~$30.97 million U.S.), down from CHF 32.207 million, due to the net loss in 2024.
By its own standards and those of the Olympic Movement, FIG is fairly stable financially, with no immediate concerns. But it is clearly the smallest of the three tier-one summer Olympic federations and shows no inclination (or plan) to change that.
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