Kazakhstan’s flagship Astana sporting project could be on the rocks after its main sponsor announced significant funding cutbacks in response to the economic crisis engulfing the country.
"Of course, it will reduce the funding of the sports project, but that does not mean that the project will be closed. But there will be a very big reduction," Darkhan Kaletayev, managing director of Kazakhstan’s Samruk-Kazyna sovereign wealth fund, which bankrolls the project, told journalists in remarks reported by Kazinform on February 25.
The Astana Presidential Sports Club was set up in 2012 as the umbrella organization for clubs in Kazakhstan's capital. Included in its ranks are soccer's FC Astana, Barys hockey club and the Astana Pro Team cyclists. It also supports individuals such as world champion boxer Gennady Golovkin and Ilya Ilyin, an Olympic gold medal-winning weightlifter.
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