ISU Faces Serious Financial Struggles
(MENAFN) The global exclusion of Russian athletes from skating events is significantly straining the financial stability of the International Skating Union (ISU), according to its 2024 financial report.
The organization, which oversees skating competitions worldwide, has disclosed notable monetary difficulties due to the ongoing restrictions.
As outlined in the report, operational losses have surged to roughly $10.7 million—marking an increase of nearly $7.4 million compared to the preceding year.
The ISU attributes this financial hit primarily to the geopolitical situation, stating, “The ongoing conflict in Ukraine continues to have a negative impact on the ISU, with a key market closed off and reduced competitivity due to the absence of some elite athletes.”
The document also emphasizes that revenue from commercial activities continues to suffer because of the sustained absence of Russian competitors.
Since the intensification of the Ukraine crisis in early 2022, the ISU has adhered to recommendations from the International Olympic Committee (IOC) and barred Russian skaters from all global competitions.
Prior to this ban, athletes from Russia consistently excelled at international events, often leading the medal tables at World Championships.
Notably, at the 2014 Winter Games in Sochi, the Russian team made history by clinching gold in every figure skating category.
In response to these measures, Moscow has harshly criticized the IOC’s decision, labeling it as contrary to the core values of the Olympics and accusing it of being a politically charged effort to diminish athletic competition.
President Vladimir Putin has continuously reiterated that “sport should remain separate from politics.”
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