Russia to spend $3 billion on sport 2011 – 2014

Russian Prime Minister Vladimir Putin announced on Monday that the government will spend $3 billion ( 90 billion rubles), on the development of sports in Russia over the next 3 years. The money will be invested in sports development in 2011 and funding for sports medicine will also be increased. The Prime Minister also declared that 2011 is the Year of  Sports in Russia!

Whilst the funding seems to be more geared towards Sochi 2014 (Olympic and Paralympic Winter Games 2014) rather than London 2012, I’m sure that the  Russian gymnastics teams will benefit from it somehow.  It’s fantastic for Russia, if only all countries could have an increase in funding! The Gymnastics Association of the Philippines have asked for a budget allowance of PHP 50 million. The Philipines “has not had a respectable performance in many years”. No harm in trying!

Read more about Russias spending on sports here.