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Russian Football Union’s loan debt stands at $5.5 mln

December 20, 2016, 18:57 UTC+3 MOSCOW
The sum of the loan debt was expected to reach $8 million in 2016, according to Russian Deputy Prime Minister Vitaly Mutko
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MOSCOW, December 20. /TASS/. The Russian Football Union’s (RFU) credit indebtedness totals 337 million rubles ($5.5 million) as of the of this year, Russian Deputy Prime Minister Vitaly Mutko said on Tuesday.

"The year of 2016 was not easy, but we have managed everything reaching the goal of our effectiveness," Mutko, who is also the RFU president, said. "Our loan debt stands at 337 million rubles as of the end of this year."

The Russian state official said he was satisfied with the annual financial results of the national football federation reached in 2016.

"The forecasted annual revenue in 2016 is 2.951 billion rubles," he said. "We were expecting the sum of the loan debt to reach 498 million rubles ($8 million), but it totaled 337 million rubles."

Mutko, who is also a member of the FIFA Council, was reelected the RFU president at the Congress of the Russian governing body of football in Moscow last month.

The former sports minister has been at the helm of the Russian football body since he was unanimously elected to the RFU presidency at the organization’s extraordinary session on September 2, 2015.

Mutko used to head the RFU from April 2005 to November 2009. He stepped down as the organization’s president, following a government resolution, which required state officials to quit top positions in sports federations.

In July 2015, an exception was made for Mutko to combine the posts of the sports minister and the RFU’s head, which allowed him to take part in the presidential elections.

After Mutko quit the RFU in November 2009, the Russian Football Union was run by Sergei Fursenko from February 2010 to June 2012 and Nikolai Tolstykh from September 2012 to May 2015.

Tolstykh was relieved of his duties by a decision made by delegates to the organization’s May 2015 conference regarding the RFU’s deplorable financial state.

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