The Canadian Olympic and Paralympic Committees along with Own the Podium unveiled a $5 million investment in a phased return to high-performance sport in a joint statement Monday as much of the sports world remains on hold in the COVID-19 pandemic.
Funding will be directed to the areas of greatest need deemed by the Return to Sport Task Force, which has developed a national framework on how the resumption of sport activity will occur “in a responsible manner” from an athlete, coach and practitioner perspective.
“A return to high-performance sport does not happen overnight, nor is there a one-stop solution,” Canadian Olympic Committee CEO David Shoemaker said in a statement. “Our focus is on investing in measures that optimize a healthy and safe return to training [by athletes and coaches].
“As the environment changes, the funds will continue to invest in key priorities identified by our medical and technical experts.”
Canadian Paralympic Committee CEO Karen O’Neill emphasized the importance “to get this right” and noted the financial investment is a strong first step in the recovery plan.
“Sport has the power to reunite and heal a nation, from our youth being physically active in all corners of the country to our nation’s best training for the podium,” added Own the Podium CEO Anne Merklinger, who believes high-performance sport will play a pivotal role in strengthening and rebuilding communities across Canada.
WATCH | How will money from federal government be utilized?
The Canadian Olympic Committee CEO talks about state of Canadian sport during COVID-19 and how funding will help keep sport organizations afloat. 3:20
The investment, according to two-time Canadian Olympic champion gymnast Rosie MacLennan, ensures athletes can return to sport in a safe and healthy environment.
“We remain optimistic to know the opportunity to return to training is giving Team Canada the chance to shine in Tokyo [at next summer’s Olympics],” she said.
Swimming Canada CEO Ahmed El-Awadi called the joint effort a “critical investment” and much-needed additional step to ensure a “safe transition for Canada’s athletes and coaches in a return to training and, ultimately, competition.”
The federal government announced in early May it would provide $72 million in relief funding to the country’s sport sector that has seen myriad events cancelled because of the pandemic.
Will some sport organizations not stay afloat?
National sport organizations and institutes will receive $34.5 million, provinces and territories $32.5 million and the Athlete Assistance Program $5 million.
“This is funding specifically devoted to what we’ve termed ‘amateur sport’ over the years, but amateur and Olympic sport,” Shoemaker told Devin Heroux of CBC Sports at the time. “National sports organizations, multi-sport service organizations and sports institutes in Canada. That’s a main point to focus as emergency funding, to make sure that they stay viable. They are an important part of the fabric of this country.”
El-Awadi painted a bleak picture in May as for the situation facing most sport organizations in Canada.
“There is a common understanding that not all NSOs are equal and that it’s possible some might get more money than others,” El-Awadi said. “I think there’s a chance some NSOs might not survive. There’s also a greater possibility NSOs will look very different after [the pandemic].”
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‘We will try to save all our organizations’
Before the sports world was shut down in March, Curling Canada was set to host the women’s world championship in Prince George, followed by the mixed doubles and senior worlds in Kelowna in April. Montreal was the host site for the world figure skating championship in March. And the women’s world hockey championship was set for Halifax in March.
Those events typically would generate hundreds of thousands of dollars in revenue for the respective national sport organizations.
Athletes whose Sport Canada assistance cheques are impacted by both the postponement of the Tokyo Olympics and Paralympics and the pandemic will also receive financial assistance.
“We will try to save all our organizations and to help everybody,” Federal Heritage Minister Steven Guilbeault told The Canadian Press in May. “We may not be able to, but we will try.
“What we’re hoping to achieve out of this is once we’ve gone through that first phase of the crisis, our sports ecosystem is still intact.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
