Ukraine Shows Progress in Preparation for EuroBasket 2015

KYIV, Ukraine, October 23, 2013 /PRNewswire/ --

The Ukrainian Basketball Federation (UBF) finalized negotiations and signed the agreement with United Basketball Investments (UBI) which undertook the obligation to put four out of six EuroBasket 2015 venues in Ukraine into operation by the second quarter of 2015. The agreement also grants BFU and FIBA Europe the right to closely monitor the construction and preparation process in Ukraine.

"The signing of the agreement was the point of no return," said Oleg Bychkov, director of UBI. The company is now responsible for the arenas to be constructed on time and be fully equipped to meet the requirements of the organizers, he noted. The construction is to start in November 2013, said Bychkov.

"The goal of BFU is to host the best EuroBasket in the history of Ukraine... I am confident that through our close cooperation (with the private investor - Ed.,) the Ukrainian EuroBasket will be long remembered by the participating teams and the guests of the championship," said Oleksandr Volkov, President of the Basketball Federation of Ukraine, as reported by Focus.ua.

The EuroBasket 2015 Championship will take place in six Ukrainian cities: Dnipropetrovsk, Donetsk, Kharkiv, Kyiv, Lviv and Odesa. Interestingly, four of them hosted the Euro 2012 football championships last year. The finals of the tournament will take place in Ukraine's capital at the Arena Kyiv.  Boasting the price tag of about USD 100 million the arena's hosting capacity will reach 15,000, which meets the requirements of FIBA regarding main arenas of the championship.

UBI - public-private investment and development company - is responsible for the construction of multifunctional basketball arenas in Dnipropetrovsk, Kyiv, Lviv and Odesa, investing about USD 200 million in the properties as well as into the infrastructure.

Interestingly, in September 2013, Ukraine, represented by Vice Prime Minister of Ukraine Oleksandr Vilkul and FBU president Oleksandr Volkov, received the symbol of the EuroBasket tournament from the FIBA Europe Secretary General Kamil Novak and the EuroBasket 2013 Ambassador Radoslav Nesterovic. The ceremony took place after the EuroBasket 2013 game for the bronze medal between Spain and Croatia.

In December 2011, the FIBA Europe Board decided that Ukraine will be the host of EuroBasket 2015, after France, Germany, Italy and Croatia withdrew their joint hosting bid.