Baltic States – CIS, Financial Services, Latvia, Legislation, Markets and Companies

President of the Ice Hockey Federation of Russia, Vladislav Tretiak urges the Republic of Latvia to fund Kontinental Hockey League's club Riga "Dinamo", as it is suffering from financial problems. Ministry of Education and Science explained that the current regulations for sports funding do not stipulate funding for professional clubs.

The Sports Law includes specific sports organizations which are eligible to receive the state funding, and in case of ice hockey, this organization is Latvian Ice Hockey Federation.

The ministry indicated that in case of hockey, the state funding is intended for preparing the national teams for world championships and the Olympic games.

"Some of the professional ice hockey club Riga "Dinamo" members are also part of the Latvian national ice hockey team," the ministry stressed.

The state funding is also intended for education professional ice hockey programs at sports schools.