It is suggested that sportsmen should open accounts

The government of Nizhegorodskaya Region decided to supervise the spending of the funds granted to sports teams in the form of budget subsidies and particular contributions. The respective corrections are suggested for introduction into the regional legislation. Managers of the teams are prepared to supply the government with the required information and point out that the clubs do not hide their accounts. The experts say that, in the conditions of the growing turnover of the sports business, the authorities’ wishes to increase the transparency of the clubs’ budgets are understandable. <…>

Mikhail Prokopets, Senior Lawyer and Head of Sports Law Group of the Law Firm "YUST", comments: “Each region has its own rules of granting budget subsidies to sports clubs. Some governors decide to support only amateur teams, since the professional sport is different precisely in the way that it should earn its living by itself. Others subsidize professional clubs as well. In principle, the federal legislation stipulates this”. According to him, the matter of supervision over the spending of the allocated subsidies arises because sport as a business is a relatively closed sphere. The lawyer explains: “A club may spend the funds allocated from the budget on player salaries, equipment, travels etc. But it cannot spend those funds on players’ transfers and agency fees, which are the most corrupt of the clubs’ activities as the players’ objective value cannot be ascertained. It is important that the regional authorities have control over that”.

For more details see here.