Russia Slashes Nearly $1 Billion Dollars From 2018 World Cup Budget

[NYCFCFan10]

As the threat of recession looms in Russia, the nation is trying to slash public expenditure wherever it can.
On Thursday it was revealed that the World Cup budget will take a hit in the latest round of cuts, as Sports Minister Vitaly Mutko revealed that the $9.6 billion budget could be chopped by 10 percent as the Russian government continues to take action to offset the falling oil prices and international sanctions impacting the nation.

He told Tass news agency that FIFA will not allow any more changes to their current venues.

“FIFA won’t give us any more concessions and all the stadiums should be 45,000-capacity,” Mutko said. “The ticketing program has started, it’s economics, it’s FIFA’s earnings. The fact that they lowered two of the stadiums to 35,000 people for us, according to their projections they already lost $60 million.”
Who is footing the bill for Russia 2018?

The government is putting up over half of the cash, around $4.5 billion, while the rest is coming from regional authorities and state-owned companies.

With the central bank in Russia predicting the economy could contract by between 4.5 and 4.7 percent in 2015, we may see more budget cuts in the coming months as what was promised to be the grandest World Cup tournament in history may look a little bit smaller by the time 2018 arrives.

http://prosoccertalk.nbcsports.com/...8-world-cup-as-economy-continues-to-struggle/

Its like a race to the bottom. Who's worse, Russia or Qatar?

Both rely on oil money, so both must be feeling the squeeze right now. Good.

 

[BxLio91]

We also rely on oil money.

 

[NYCFCFan10]

We also rely on oil money.

Who?

US of A? Obviously not.

Edit: Or are you Canadian? Then, yes. Yes, you do.

 

[BxLio91]

We as in

 

[NYCFCFan10]

Hehe....oh yeah. Whoops.

It was the best of times, it was the worst of times.

 

[MagnusPax]

Stop invading other nations and eminent domaining them and maybe you can afford a WC.

 

[LostAnvil]

maybe they should have hosted The World Polo Championship instead

 

[413Blue]

maybe they should have hosted The World Polo Championship instead

If your going to post that pic...you gotta post the chelsea handler photo as well.

 

[LostAnvil]

If your going to post that pic...you gotta post the chelsea handler photo as well.

not sure if I'm familiar with the photo - lemme just Google that while I'm at work...

 

[Fantazma]

over blatters cold dead fingers will FIFA change WC sites for Russia/Qatar

 

[MikeDatTiger]

If your going to post that pic...you gotta post the chelsea handler photo as well.

NOPE NO YOU DON'T.

 

[Tom in Fairfield CT]

NOPE NO YOU DON'T.

I thought she looked surprisingly good in that pic

 

[MikeDatTiger]

I thought she looked surprisingly good in that pic

yeah, I'm going to say no.

 

[Kjbert]

The US economy is growing now thanks to the energy industry. We now have enough natural gas produced annually that we could export our Nat Gas.

Qatar is a nation reliant on oil but the cash reserves they've built up are a strong buffer. They'll be fine. The Russians won't be fine.

 

[NYCFCFan10]

Why don't we make a serious effort to push CNG cars? Makes no sense.