The Effects of Three Memorandums in the Management of Greek Olympic and Athletic Sports Οrganizations

Abstract

After the rapid growth that Greece has had since joining the Eurozone and the irresponsible lending of the Greek governments in the public sector without ensuring that the economic crisis emerged as a competitive one, they were unable to borrow to cover both the external debt and the budget deficit. So, they were forced to ask for help from the Eurogroup, the European Central Bank and the International Monetary Fund, signed from May 2010 until the 2015 three memoranda. The aim of this study was to describe the management characteristics of the Greek Olympic and athletic sports organizations during the three memoranda. The data were extracted from the GSS website and the annual sports federation funding, before the first, second and third memorandum. After the results, the analysis with descriptive statistics observed that; (i) Before and after the first memorandum there was a drastic cut in the SF’s funding up to 30 %, (ii) Between the first and the second memorandum the cut further decreased reached up to 95 % and (iii). Between the second and the third memorandum, the NF’s funding continued, by changing a smaller percentage.   It was concluded that the Olympic and athletic sports organizations during the memorandum years have been deprived the substantial amounts of the government funding and to continue to survive, they have to find other funding resources.

Keywords: Sports organizations, management, Olympic sports organizations, memorandum