Loading ...
2022 News Slider

LEN Audit has been first step in journey to build sustainable finances

One of the key pillars of the LEN post-election Action Plan is to build a financially sustainable future.

To support this, an internal evaluation/review, has been made regarding the status of LEN’s finances, organisational structure, and commercial strategy. The goal is to reduce costs, enhance efficiency and increase revenues to invest back into the sport.

The new commercial strategy will include i) Marketing; ii) sports management; iii) communication and social media, so detailed analysis and audits have been carried out across these areas. LEN will also ensure that its plans align with those being introduced by FINA’s Reform Committee, so there can be sustainable benefits for the sport.

Since the election, LEN has made solid progress in building the new future for LEN. So far, we have:

  • Conducted an internal audit of all areas of the organisation to help us plan for our future. This audit has helped us to help plan an annual budget and set up relevant reporting structures and KPIs for different sections of the office.
  • Had productive meetings with the European Broadcasting Union to discuss broadcast and digital opportunities.
  • Had discussions with stakeholders regarding future involvement with multisport events such as the European Games and European Championships Multisports.
  • Started exploring options and next steps for developing a commercial. strategy. This new commercial strategy will help us identify partners, sponsors and brands that share our objectives and vision.

Treasurer Tomas Kucinskas said:

LEN must build a financially sustainable future. By creating the structures to increase our commercial revenues, we will be investing in our future development. By making our sport more visible, valuable, and appealing, we directly help our member federations and athletes. This is only the start of the journey, and while we have made progress there is lots of work still to be done.