Sports Fund law to take effect next summer — Latvian Olympic Committee president
The Saeima has adopted a law on the State Sports Fund in its final reading, but it will only become operational next summer, said Latvian Olympic Committee president Raimonds Lazdiņš.
Latvia's parliament, the Saeima, adopted a law on the State Sports Fund in its final reading the day before. Latvian Olympic Committee (LOK) president Raimonds Lazdiņš discussed the step and its practical consequences in an interview with Latvian Radio.
Vladimirs Šteinbergs, chairman of the board of the Latvian Council of Sports Federations, also took part in the conversation. Both sports sector representatives explained when the new fund will actually begin operating and how it will change the current situation with sports financing in the country.
Lazdiņš noted that although the law has been passed, its practical implementation will take time — the fund will become fully operational next summer. Until then, several preparatory steps must be completed before the new financing system can start functioning.
Sports sector representatives view the law as an important step toward organizing sports funding in the country, since it provides for the creation of a separate fund that will ensure a more stable and clearer distribution of funding for sports going forward.
The exact mechanisms of how the fund will change the current financing arrangement are still being clarified, but both interviewees expressed support for the law's adoption and hope that it will improve the sports financing system in Latvia.
