(Hockey News) The recently published 2022 FIH accounts, approved by auditing firm Ernst & Young, have prompted FIH President Tayyab Ikram to share his thoughts on finances, investments, development, and transparency.
FIH had faced financial challenges in the past. How did you manage to recover?
Tayyab Ikram: We implemented strict cost-saving measures to address the situation. Additionally, this prompted us to re-evaluate the FIH Hockey Pro League format, which was previously characterized by long and expensive travels that negatively impacted the well-being of athletes. We have now established a more sustainable and balanced match schedule. Furthermore, we have become more innovative in terms of broadcasting our events.
During my tenure as FIH President, I will prioritize the financial sustainability of our organization and the relevance of our projects.
The 2022 FIH accounts have confirmed that the financial situation of hockey’s world governing body has significantly improved. What are your investment priorities?
As a non-profit organization, our primary mission is the development of hockey. We have recently launched the “FIH Empowerment and Engagement Strategy,” an ambitious program encompassing various projects aimed at fulfilling our mission. Therefore, a significant portion of our financial investments will be focused on these initiatives to drive the global growth of our sport.
We will also explore opportunities to broadcast our events on free-to-air platforms, whenever possible, in order to expand viewership. This may require additional financial investments.
The FIH accounts are available on the Federation’s website, FIH.hockey. How crucial is transparency?
Transparency is an absolute necessity. In my opinion, it is essential for the proper functioning of any organization and to instill confidence among all stakeholders. We not only publish our accounts but have also recently organized a summit with National Associations, discussing a wide range of topics and inviting them to join our latest Executive Board meeting. We aim to keep them informed about our financial situation at least twice a year and provide them with the opportunity to ask questions. This commitment to transparency reflects good governance and our responsibility towards our members.
How do you plan to expand financial resources?
It is vital to continuously strengthen our product. We still have areas where we can enhance its appeal to internal and external stakeholders, including the way we present our sport.
This is crucial for developing partnerships because they should be mutually beneficial and not one-sided. Building trust is equally important. If potential commercial partners perceive value in our product and have trust in our organization, we can forge successful partnerships. Therefore, the quality of our offerings and the trust we establish are of utmost importance.
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