REPORT: Australian Swimming League left high as founding project manager ‘convicted of tax evasion’
As Australia has enjoyed its all-time best Olympic Games in the pool, the state of the sport, both nationally and internationally, is undergoing a series of dramatic events with disturbing reports surfacing that continue to do. vibrate sport.
In the wake of a threat to exit from competitors challenging the International Swimming League (ISL) for money owed to teams and contractors, here is more news today from the Age and Herald of the Sun newspapers that Australia’s own Swimming League may well struggle to stay afloat even before reaching the starting blocks.
The report claims that the founder and main investor of the project David Brandi, a prominent Melbourne business owner and real estate investor “has been convicted of tax evasion and banned from acting as a business manager”.
Brandi first approached Swimming Australia with the idea of ââan Australian Team Swimming League (ASL) last year and it was launched before Tokyo, then delayed due to COVID.
Melbourne-based Brandi is serving a two-year suspended prison sentence after pleading guilty to dishonestly obtaining Commonwealth earnings. He was excluded from the management of a company for five years.
âMr Brandi’s guilty plea was filed in Victoria County Court on July 26 – seven days after Swimming Australia and ASL issued a joint statement announcing their new ‘revolutionary’ league. Its launch was originally scheduled for this month but has been postponed for 12 months, âwrites respected investigative journalist Chip Le Grande.
Today’s report in Age and Herald of the Sun “The International Swimming League, a professional competition founded three years ago by Ukrainian-born billionaire Konstantin Grigorishin, serves as a warning about the pitfalls of sports start-ups with the paper confirming that” the ISL based in Europe, already in debt to suppliers, still owes swimmers money for last year’s competition and unless those payments are met, ISL could face a walkout from competitors ahead of the month’s final series next (in Eindhoven).
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Meanwhile, several of Australia’s top swimmers led by Emma McKeon, Kylie Chalmers and Madi Wilson continued on their way, dominating the Fina World Cup Series as they prepare for the ISL play-offs with London Roarâ¦. November.