For the new season of the basketball club “TTT-Riga” jointly established by the Riga City Council and “Rīgas satiksme” and for the club’s participation in the Euroleague tournament of the International Basketball Federation (FIBA), the municipal capital company “Rīgas satiksme” will allocate 450,000 euros from its profit. On July 7, it was supported by municipal deputies at the Riga City Council meeting.
Implementing responsible financial management, as well as ensuring transparent operation of the company, “Rīgas satiksme” has closed 2019 and 2020 with a profit, ensuring a stable financial situation. This allows part of the profit to be directed to the new season of the company’s co-founded basketball club “TTT-Riga” and participation in Euroleague.
“Rīgas satiksme” will provide financing in the amount of 450,000 euros to the joint foundation “TTT-Rīga” of the capital company and the municipality. The funding is intended for participation in the International Euroleague Women’s Euroleague Tournament, as well as for the further development of youth talent, ensuring the growth of professional players for the Latvian women’s basketball team. The best 16 European teams play in the Euroleague and it is the highest level in women’s basketball with the participation of world stars.
Riga City Council Communication Department
