World Sailing negotiating overdraft

World Sailing is in the final stages of negotiating an overdraft facility to cover an expected cash fall in the middle of next year. The worst-case peak shortfall is currently estimated to be £1.3 million ($1.7 million/€1.5 million) in August 2020, although the body expects to start the year with a cash balance of just £35,715 ($46,108/€41,358). Details of the governing body’s challenging cash flow situation emerged at its recent Council meeting in Bermuda. Full report.