HomeJOA NewsPresident Samuda expresses pride in JOA’s financial achievements

President Samuda expresses pride in JOA’s financial achievements

PRESIDENT of Jamaica Olympic Association (JOA), Christopher Samuda believes the entity has made significant strides under his leadership and predicts there is more to come.

Since Mike Fennell stood down in 2017 after over 40 years in the post, Samuda has guided the JOA for the last six years. During that time he was re-elected in 2021 with a landslide victory over challenger Alan Beckford.

Earlier this month JOA and Red Stripe signed a five-year, $80-million sponsorship deal which will cover several expenses including travel, accommodation and preparation for major championships — including next year’s Olympic Games in Paris, France.

The association has secured numerous other multimillion-dollar deals in the past six years, including partnerships with Supreme Ventures, Mayberry Investments, Toyota Jamaica, and Marathon Insurance Limited.

JOA President Christopher Samuda (left) and JOA Secretary General and CEO Ryan Foster pose with Jamaica’s cycling bronze medallist Dahlia Palmer at the Pan Am Games in Santiago, Chile, recently. (Photo: Karl Mclarty)

Speaking to the Jamaica Observer, Samuda says he and his team have placed JOA and its member associations in a strong financial position.

“When my Administration came into office we indicated that we are going to ensure we develop the revenue base to support the requirements and demands of our member associations. Financial framework is very important for us, and we have established a corporate framework that lends to revenue generation, cost discipline. And [there is] business in sport and we are, in fact, exemplifying that business expertise in sport,” he said.

While he takes pride in JOA’s accomplishments during his tenure, he emphasises the need for further efforts.

“Yes there are things we have to do, there are things that many have…left undone which we are trying to do now, but basically speaking the organisation has been so restructured into a corporate entity — and I believe that, of course, is the framework on which we are building to ensure that our revenue base continues to be secure and our member fedeartions continue to be served.”

With the Paris Games only seven months away and preparations for other major events, including the 2028 Olympics in Los Angeles, set to get underway in short order, Samuda is calling for more sponsors to get involved.

“Thank God, and happily, corporate Jamaica has been responding to the vision and mission of the Jamaica Olympic Association. The last five years we have seen tremendous interest and have materialised some of that interest from corporate Jamaica. This is a model that we will be commercialising, and what we’ll be saying as the JOA is: ‘Come on board as a corporate sponsor, come on board in the interest of sports development in Jamaica.’ And what we will do is ensure we have a sustainable model that will give bang for the buck while realising the objectives of developing our athletes, coaches and administrators,” he said.

Samuda and his team will oversee their second Olympic and Paralympic Games next summer on the back of the COVID-19-affected Tokyo Olympics in 2021. Additionally, Samuda was responsible for overseeing the Commonwealth Games in 2018 and 2022, as well as the Pan American Games in 2019 and 2023.

His second term as president is scheduled to end in 2025, when the JOA elections are constitutionally due.

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