FINA will offer record prize money at its World Championships in Kazan this year ©Getty Images

This year’s International Swimming Federation (FINA) World Championships will offer a record prize fund of $5.5 million (£3.5 million/€4.8 million). 

The top eight ranked competitors or teams in each event will be entitled to receive prize money in Kazan, where the Championships are set to take place from  July 24 to August 9. 

This marks an upturn from the previous editions of FINA’s flagship event, where only the best six were rewarded.

Swimming will distribute $2.5 million (£1.6 million/€2.2 million), while open water will provide $420,000 (£265,000/€368,000), and diving will give $780,000 (£491,000/€684,000).

High diving will share $125,000 (£79,000/€110,000) between the first 14 men and first 12 women as an exception, with synchronised swimming handling $900,000 (£567,000/€790,000) and water polo rewarding up to $720,000 (£453,000/€632,000).

Moreover, for the swimming competition, a world record will now be worth $30,000 (£19,000/€26,000).

“FINA’s strategy of re-investing in the sport has dictated this improvement.” said FINA President Julio César Maglione.

“Our World Championships generate great performances and we must award our Stars for their contribution to the enhancement of the aquatics’ image worldwide.”

Swimming will distribute $2.5 million at this year's FINA World Championships
Swimming will distribute $2.5 million at this year's FINA World Championships ©Getty Images

FINA introduced a prize money policy for its World Championships, starting from the 2007 edition in Melbourne, where only the medallists were rewarded.

At the 2013 instalment in Barcelona, FINA had enlarged this distribution to the best six in each event, with a total prize fund of $3.1 million (£2 million/€2.7 million).

“Going from $3.1 million in 2013 to $5.5 million in 2015 is also a proof that the value of our World Championships is steadily growing, being presently one of the most popular sport events in the planet,” added Maglione.

Back in April, FINA revealed that since the start of the year members of its Bureau and other top office holders had received $400 (£252/€351) a day for days of travel on FINA business, up by 33 per cent from $300 (£189/€263)  .

This came less than a month after it emerged that International Olympic Committee members were getting an increase in their expenses coincident with the Movement’s transparency drive.

Under the IOC indemnity policy, it was proposed that IOC members and honorary members get $7,000 (£4,400/€6,100) for annual administrative support and a $450 (£283/€395) a day indemnity for attending meetings, including travelling time.

This compared with figures of $6,000 (£3,800/€5,300) and $400 (£252/€351) a day set out in an Agenda 2020 background document published last November.

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