31Mar 2020 by DS News Team
Big Sponsor Helps Norwegian Skiing Out Of Financial Hole, But Changes Are Dire

Big Sponsor Helps Norwegian Skiing Out Of Financial Hole, But Changes Are Dire

Money & Finance, Newsfeed
- In a full turnaround Sparebank1 re-signed as a main sponsor of the Norwegian ski federation. It's a lifeline: previous info suggested that they would not extend the deal leaving a gaping hole in the Team Norge finances. The deal is worth NOK 10mln per year for two years. At the current exchange rate it's around 870k euros - a year ago it would be more like 1 million euros. With a lot of expenses - travel, lodging etc. denominated in euros, it's still a significant decline, but it should be enough to cover team's basic needs in the competition season of 2020/21. - At the same time, big departure from previous policies announced. Hitherto almost all the sponsorship was done on centralized basis and was the strictest known in…
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28Mar 2020 by DS News Team
Crisis Hits Norges Skiforbund

Crisis Hits Norges Skiforbund

Newsfeed
The Norwegian Ski Federation is in full-blown financial crisis. The Skiforbund has lost its funding to the tune of NOK 50 million (about 4.3 million euros at the current exchange rate) for this budget year . Two thirds of personnel will be made redundant or moved to part-time employment arrangements as of March 30th. The Dailyskier has learned that all Norwegian national cross country skiing team' camps are formally cancelled all the way till autumn, the skiers are told to make their own arrangements until then. We have little doubt that Johaug, Klaebo and a few other leading athletes would be able to pay for the camps they deem necessary out of pocket, but at the end of March nobody would dare to predict when skiers' favorite spots in the…
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