The announcement by Central Bank Governor Jwala Ramarran that the country is in recession and the effects will be felt next year (An Olympic Year) has not surprised the Trinidad and Tobago Olympic Committee (TTOC ).

Read more: Local Sport Can Weather Hard Economic Times - Things That Matter

Most people believe that sport administrators live a life sipping champagne, munching on caviar and operating in and out of five-star hotels.

Read more: My Miami myriad of human emotions - Things That Matter

Unelected and unaccountable. When the unelected flex their muscles sport is less democratic. Free and fair elections, it is argued, is the bulwark of democracy in any sphere. Any effort to promote and strengthen democracy in sport governance must be embraced no matter how bothersome.

Read more: Sport bodies must aspire to effective governing - Things That Matter column

The environment in which national sport organisations and governing bodies operate have evolved far beyond the traditional methods and thinking.

Read more: The future has arrived - Things That Matter column

Brian Lewis, left, with 2012 T&T Olympic gold medalist Keshorn Walcott.

The medal bonus for Rio 2016 Olympics in Brazil will be US$10,000 for an individual gold medal, US$8,000 for silver and US$5,000 for bronze.

Read more: Big cash incentives for T&T medallists - Things That Matter column

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