Eight million dollars in facility fees waived for national governing bodies in fiscal 2018
The Sports Company of Trinidad and Tobago (SporTT), continues to provide an enabling environment for sporting activities, disciplines and their National Governing Bodies (NGBs). This can be seen in the latest financials as we wrap up our calendar year.
For a historical perspective, since the inception of SporTT in 2004, an approximate total of three hundred and ninety-four million dollars (TTD$394,001,197) in subventions have been given out to various NGBs. The top six sporting disciplines to benefit were Football, Track & Field, Cricket, Hockey, Swimming and Volleyball.
The yearly financial report has been as high as an approximate fifty million in 2007 and as low as five (5) million in fiscal 2018. This is separate to the waivers which registered NGBs have received. Waivers are qualified as facilities rental, office space, storage rental and sports sciences services used such as physio-therapy, gym use, evaluation and testing, etc.
While waivers have always been afforded to registered NGBs, the board of SporTT decided in 2018 that a new invoice regime should begin so that the organisations can do more transparent bookkeeping. To this end for fiscal 2018, which ended in October 2019, approximately eight (8) million dollars in waivers were passed on to partner bodies for use of our various facilities.
Another significant value add for our partner NGBs is the waiver of fees for space used as secretariats and for storage. This totalled approximately twenty-three million (TTD$22,848,965.96) dollars.
These facilities would include all the stadiums and premier facilities which SporTT manages. Chief Executive Officer Jason Williams says these figures, “represent the commitment to sport and the development of facilities for play. It also means that the over ten thousand athletes represented by the fifteen NGBs have had a place to practice and showcase their skill to the national community and the world”. He noted that, “this makes the job we do here more worthwhile and we will continue to be transparent in our investments into sport locally”.
About The Sports Company of Trinidad and Tobago
The Sports Company of Trinidad and Tobago (SporTT) was established in 2004 as a limited liability, special-interest company geared towards the management, administration and programming of sport as well as the construction and operational maintenance of sporting facilities throughout Trinidad and Tobago. SporTT is the premier organization for the development of sport, athletes and sporting organizations in Trinidad and Tobago. See here for more information on Sportt: http://www.sportt-tt.com/
For further information, please contact:
Senior Manager, Corporate Communications
Tel: (868) 278-8555