This will be the final Swimwatch post that argues that the Sport New Zealand control of Swimming New Zealand (SNZ) has damaged the sport. Since the SNZ Constitution was rewritten by Sport New Zealand in 2012 the two Sport New Zealand appointed Chairmen, Layton and Cotterill, have used the SNZ Annual Report to define their view of the purpose and goals of the organisation. Here is a selection of things they have said.

2012 The new Board will be charged with the growth and performance of competitive swimming.

2016 We are seeking to constantly grow and develop the sport.

2017 Excellent programmes will ensure that we are able to grow our sport.

2018 Strengthening our bottom line remains a key focus as we look to invest as much as possible into all our programmes but at the same time ensuring we are increasing our limited reserves,

You can see how, right from the beginning of the Sport New Zealand ownership era, the emphasis was on growth. I have highlighted the word in what those in charge said. Given that both Chairmen Layton and Cotterill came from a world of “money” rather than “sport”, the word growth meant two things. It meant “dollars profit” and “dollars’ worth”. In 2018 Cotterill spelt this out as “strengthening our bottom line” and “increasing our limited reserves”.

Let me explain. Layton and Cotterill spend their corporate lives around long mahogany board-tables. In that environment the dollar really is almighty. They genuinely love money. What were we worth yesterday? How much more are we worth today? Pleasure comes from wealth. For these men the accumulation of money is their goal. It is their hit. It is their turn on. Not what you can spend it on, or use it for, just more money is enough.

Others get the same emotion from writing music. I’m sure Lewis Hamilton gets a primal thrill from driving very fast cars. I know I get it from watching good swimmers or runners. I don’t need to be coaching them. Watching what they do is enough. Lauren Boyle, stunning. Alexander Popov, unbelievable. Dixon, Walker and Quax, impossible talents. Alison made every trip to the track a joy. Carina Doyle makes her trade look ridiculously easy. Jane’s courage caused me to sit in wonder. And of course, helping Eyad makes every Millennium visit a holiday. The thrill of watching the talented at work is all the satisfaction I need.

I never understood how money men could feel the same about accumulating wealth. But they do. Several of them have told me. In my opinion Layton and Cotterill are in that group. And I believe it has cost SNZ dearly.

Through the last ten years two numbers had to be kept in line. The first was profit. Layton and Cotterill were well aware the amount of profit was the primary concern of the majority of SNZ members. Most people are not interested in the ratio of earnings to debt or the percentage of current liabilities to current assets. But a profit means everyone goes home content that the Board has done a good job.

And the second money man’s obsession is net worth. What is the business worth? Is SNZ increasing in value? Is it worth more dollars this year than last? The table below shows how Layton and Cotterill cared for these two measures.             

Year	Profit (Loss) $	Net Worth $
2021	97,551	560,373
2020	(32,478)	462,822
2019	46,687	495,300
2018	58,853	448,613
2017	29,115	389,760
2016	(63,923)	360,645
2015	109,713	424,568
2014	18,021	314,855
2013	16,234	296,834
2012	(120,213)	280,600

As it turns out, they looked after the two figures very well. The average annual profit even after a very shaky start in 2012 has been $15,956. The value of the business reflects the profits. SNZ has increased in value from $280,600 to $560,373. In ten years SNZ has doubled its dollar value. Perhaps not in the (5-times increase) Google league but certainly a pass.

In my view the problem has been the cost Layton and Cotterill were prepared to pay in order to keep their money mates in Sport New Zealand happy. To maintain profit and increase value they decimated the sport.

Previous Swimwatch posts have discussed the destructive fall in membership (26%) as the business contracted to preserve its profits. The number of coaches was halved for the same reason. Good people were sacked. International performances were catastrophic. And funding fell by a million dollars a year (24%). In short swimming and swimmers paid a devastating and unacceptable price to satisfy financial egos. There had to be another way. But in my opinion SNZ’s leaders were not good enough or even interested in working out what that was.

Recovering financially is not going to be difficult. That can be done. Recovering the sport is going to be long and tough. And in many cases those teenagers hurt most will never recover. Their one shot at swimming success has been lost forever. And I doubt the fact the organisation is worth twice as many dollars as it was ten years ago is going to be much comfort.