ISU: Ice Skating Revenues Plunge Due to Russian Athlete Ban
(MENAFN) The International Skating Union (ISU), the global authority for figure skating, has disclosed a significant financial hit linked to the suspension of Russian athletes worldwide, according to its 2024 financial report. The organization reported operating losses totaling approximately $10.7 million—an increase of nearly $7.4 million compared to the previous year.
“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 report reveals, highlighting continued pressure on commercial revenue stemming from the exclusion of Russian skaters.
Following the escalation of the Ukraine conflict in early 2022, the ISU imposed a ban on Russian athletes in all international skating competitions, in line with recommendations from the International Olympic Committee (IOC). Russian skaters had previously dominated the World Championships, consistently securing more medals than any other country. Notably, at the 2014 Winter Olympics in Sochi, Russia became the first nation to capture gold across all five figure skating events.
Moscow has strongly criticized the IOC’s exclusion policy, branding it as a breach of Olympic principles and accusing it of being a politically motivated effort to undermine competition.
Russian President Vladimir Putin has repeatedly emphasized that sport should remain free from political interference.
The ISU’s report also flagged a rise in operating costs, largely driven by “legal costs related to antidoping matters, notably the Valieva case.”
Kamila Valieva, a 15-year-old Russian figure skater, tested positive for a banned substance just before the 2022 Beijing Winter Olympics, though the positive result surfaced only after she secured a gold medal at the Games. After a protracted legal battle, her results were invalidated, Russia’s gold medal was stripped and awarded to the United States, and she received a four-year ban from competition. Russian officials condemned the ruling as politically charged.
Looking ahead to the 2026 Winter Olympics in Italy, a limited number of Russian athletes will be permitted to compete under a neutral flag. Valieva, whose ban will conclude prior to the Games, is expected to be eligible for return.
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