The Russian Basketball Federation made their financial books of the past year public for the first time, announcing profits of 70million rubles (~1.8mil euros).
President Alexander Krasnenkov, had pledged upon taking office in December 2010 that the Federation would make public the financial figures for each year.
The total expenditures of the Federation were 301.909.227 rubles, including fully repaying more than 90 million in debt, left from the previous management. 46.318.449 rubles were paid for the maintenance of the Men’s National Team and 34.323.737 for the Women’s National Team.
The revenues of the Federation were 369.928.547 rubles (including 30mil by the PBL in order to have the right to organize a professional league), resulting in a total profit of some 68mil rubles.
This may actually be the only Federation in Europe that is making profit when other leagues don’t even have money to organize an All-Star Game…