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SBD Global/December 30, 2013/Finance

Kontinental Hockey League Loans Funds To Cover Spartak Moscow's Debts

The Kontinental Hockey League has given financially-troubled Spartak Moscow "a New Year's present by loaning funds to cover its salary debts Friday," according to R-SPORT. The "decorated Russian team warned two weeks ago that a shortage of funds threatened its very existence." A statement on the KHL website said, "The league made the decision to render the team help to secure its further participation in the season and avoid the termination of contracts by the players. The KHL will provide Spartak with the funds for partial clearance of salary debts and finance its nearest away games." Former Spartak players "have appealed to Russian President Vladimir Putin for help" (R-SPORT, 12/27).
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