In a special senate meeting held on Friday, "it was unanimously decided to wind up the I.F.S.A. federation and to form a company in its place." The new company will be called I.F.S.A. International Ltd. and it will now "administer the sport," and "will hold legal binding contracts for all leading athletes and will be responsible for the organization of all major events." The directors of the company are Ilkka Kinnunen, Jamie Reeves, Douglas Edmunds and Marcel Mostert.