The money will be redistributed to Russian sport, said deputy PM Dmitry Chernyshenko
St Petersburg was due to host the UEFA Champions League final. © Getty Images
Russia will redirect billions of rubles of funding into the development of domestic sport after the country was stripped of a host of international events, Deputy Prime Minister Dmitry Chernyshenko has said.
In the wake of the military operation in Ukraine, Russia has lost the hosting rights to numerous sporting showpieces, including the likes of the 2022 UEFA Champions League final and World Men’s Volleyball Championship.
Russian and Belarusian athletes have also been widely sanctioned and prevented from competing in international tournaments, although some sports such as tennis have allowed them to do so under strictly neutral status.
The money that Russia will save by not hosting the canceled events will run into the tens of millions of dollars, said Chernyshenko, adding that it would instead be invested in sport for the benefit of Russian athletes and citizens.