Polish Olympic Committee faces nearly 8 million PLN debt crisis

The Polish Olympic Committee (PKOl) is facing a severe financial crisis following the tenure of former president Radosław Piesiewicz. Acting president Marian Kmita has revealed that the organization's debt is significantly higher than initially reported, totaling nearly 8 million PLN rather than the previously stated 3.5 million PLN.

Of this total, approximately 2 million PLN is owed to various Polish sports associations. Kmita noted that most creditors, including the Polish Rugby Union, have shown understanding by allowing for a structured repayment plan extending into next year. However, the committee's liquid funds are expected to last only until mid-December.

To manage the crisis, an audit is currently being conducted by Ernst & Young, with results expected by mid-November. Kmita also indicated that the financial strain will impact staff, as he is discussing potential salary reductions to ensure the organization's survival.