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SBD Global/January 11, 2013/Events and Attractions

Russia's University Games Under Scrutiny After Finances Questioned

Russia’s state Audit Chamber said there are "questions" over the financial health of the 2013 University Games in the city of Kazan after reports emerged in the Russian media that the project "could be on the verge of bankruptcy," according to R-SPORT. The office of Deputy PM Igor Shuvalov, who is also the University Games Organizing Committee head, "warned against exaggerating the issue" after Russian newspaper The Izvestia said that it had "obtained a leaked document showing the Games could not meet its tax obligations." The Izvestia said that the Games’ cash reserves fell short of its tax bill by more than RUB 100M ($3.3M). The Audit Chamber said that talks about the Games’ finances "are under way" between the Audit Chamber, the federal Finance Ministry and the regional government of Tatarstan, where the Games will be held. Shuvalov’s office "strongly denied claims the Games could go bankrupt" (R-SPORT, 1/10).
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