Russia’s Sports Minister, Mr Vitaly Mutko, has announced that the country’s preliminary budget for holding the 2018 FIFA World Cup™ is 600bn roubles (£12bn); almost twice what was projected when it won the bid in 2010.
As reported by the BBC, Mr Mutko revealed this weekend that nearly 40% of the total budget will go into building or renovating stadiums, with the rest of the money to be spent on transport and hotel infrastructure.
Funding is expected to be split evenly between the public and private sector.
Russia beat off a rival bid from England, as well as joint bids by Portugal and Spain, and Belgium and the Netherlands to land the right to host the event in 2018.
And, on Saturday, the eleven Host Cities for the tournament were unveiled, spanning the European part of Russia. Matches will be played in: Moscow (with two of the 12 stadiums); St Petersburg; Sochi; Yekaterinburg; Kazan; Nizhny Novgorod; Rostov-on-Don; Samara; Kaliningrad; Volgograd; and Saransk.
Five of the stadiums that will stage the games are now under construction, in Moscow, St. Petersburg, Kazan, Sochi and Saransk, with the Russian Government expected to order design work on four more stadiums in Volgograd, Nizhny Novgorod, Rostov-on-Don and a city that has yet to be determined. Design of the remaining two stadiums will start next year, Mr Mutko said.
TheStadiumBusiness Design & Development Summit 2012 will be held this November in Warsaw, Poland – the crossroads of east and west Europe, and the natural gateway to emerging sports facility market in Russia.