As a result of a bizarre bidding scandal from back in 2013, the city of Gwangju, South Korea is finding itself in financial dire straights in terms of its ability to host the 2019 FINA World Championships. Not only are the costs of the competition growing exponentially, but the city is also continuing to face a stern cold shoulder from its national government who refuses to contribute financial support.
The latest figures indicate that the 2019 competition’s budget has jumped from 114.9 billion won ($99.6 million) to 185 billion won, tied to the construction of a new aquatics facility to be used for the competition. The city of Gwangju hosted this year’s World University Games at Nambu University International Aquatics Center, however, plans to use that facility for the FINA World Championships fell through and a new facility needs to be built.
In addition to that enormous cost, accusations of forgery still surround the city of Gwangju, who won the 2019 bid back in 2013. Korea’s Ministry of Strategy and Finance points to the use of forged documents in the its original bidding process, an accusation that came to fruition in the form of legal punishment. In fact, back in January 2014, two South Korean government officials were dealt suspended 6-month prison sentences after having been found guilty of forging signatures of former Prime Minister Kim Hwang-sik and former Culture Minister Choe Kwang-sik on documents, which pledged government monetary aid for the hosting of the World Championships.
Gwangju city government insists that the forged signatures were the result of a staff member’s mistake and that the forged letter was indeed replaced with a legitimate one that June.
As a safeguard against such alleged practices in the future, a Korean law was proposed to require local governments to gain National Assembly approval before bidding for international sporting events costing at least 10 billion won ($9.31 million).
At the moment, the city of Gwangju, home to 1.4 million residents, remains as host of 2019, but familiar bells from Guadalajara are ringing in that a new last-minute host may be named if Gwangju can’t get its monetary act together.
Gary P – I think the only money matter relevant to FINA is the up front $40 million they take for awarding these world championships. David Berkoff estimated that number is about the bid needed to procure a meet. Once that money clears, the plan is there doesn’t seem to be a plan.
Another point is there are currently enough world class facilities to rotate for world events. Even if these venues cost $200 million, the world doesn’t need another 5 of them. And a pool costing hundreds of millions is about the worst multi-purpose facility I could fathom. The 2008 Olympic pool is no longer for that very reason.
$150 million to host a swim meet is ludicrous. I have no doubt this will go the same way as Guadalajara.
This stuff with FINA just gets better and better.
Uh oh!
Chin-cha nah-poh!!!
C’mon Korea! You can do it!
I don’t know whether to keep laughing or cry now. Two bozos signed for the Prime Minister and nobody at FINA checked the authenticity of it? You’d think a $100 million – $200 million event would involve a meeting where an agreement is memorialized. I’d like to make a joke on top of this, but here the facts speak well enough alone to just laugh at.
I’m beginning to think they WANT to deal with gullible local government officials who are easier to hoodwink, and may be purposely side-stepping national authorities who might throw a cold bucket of fiscal sense on the proceedings.