What We're Reading

Russian World Cup cost estimate doubles

  • Reuters, Sunday, September 30, 2012 11:28 PM

Russia's Sports Minister Vitaly Mutko said on Sunday that Russia plans to spend nearly $20 billion on the 2018 World Cup.

Eleven host cities were named to host the month-long tournament, two fewer than had been previously proposed. They range from the Baltic seaport of Kaliningrad to Yekaterinburg, located at the foot of the Ural mountains near the Europe-Asia border.

Mutko said the projected cost is 600 billilon rubles ($19.23 billion), which is nearly twice the original sum named by then-Prime Minister Vladimir Putin when Russia was awarded the tournament in December 2010.

"These are not the final numbers. You can call these figures a rough estimate," Mutko told a news conference. Half of the money will be provided by the federal government."

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