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Finances

Principle 3

Principle 3: Finances

NSOs ensure that all financial responsibilities and expectations are established prior to relocation, and are detailed in the relocation offer or agreement.

Athletes should be fully aware of their financial responsibilities when relocating. It is therefore important that NSOs are upfront, transparent, and comprehensive regarding all financial commitments undertaken by the athlete in the course of relocation.

A relocation agreement should be prepared and signed by both the NSO and the relocating athlete that communicates the rights, responsibilities, and financial obligations of each party.

Appendix 1: Guidelines for finances

Financial considerations should be reviewed by the NSO and the relocating athlete, with all relevant financial obligations clearly communicated in the relocation agreement. Athletes should be assisted to explore the costs associated with relocating and how they intend to support themselves once they have relocated.

Areas for consideration

1.

Financial support

  • Who is financially responsible for the logistics of the relocation (for example: flights, temporary accommodation, transport to and from airports, removalist costs, etc.)?
  • Is the relocation from or to a NIN program? If so, is NIN support available?
  • Is the move temporary or permanent? Does this affect the level of NSO financial support offered?

2.

Travel

  • Who is responsible for costs associated with travel for competition?
  • Are trips home available and who will be financially responsible for flights/transport?

3.

Other

  • Are there any relevant grants or funding that the athlete can access? Is the athlete eligible for any scholarships?
  • Are there any other sport-related costs associated with the move? If so, who is responsible?
  • Has the athlete prepared a budget? How much money will they need per week?
  • Will the athlete require a job? Will they have enough time for work if also training and studying?

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