Support The Moscow Times!

Lisin Replaces Bogdanchikov for Olympics

Vladimir Lisin replaced Sergei Bogdanchikov as vice president of the country's Olympic Committee on Wednesday, in line with the committee's hopes that the wealthy Lisin will be able to raise the funds needed to restore the team to its former glory.

Lisin, owner of Novolipetsk Steel and president of the Russian Archery Union, was unanimously elected president of the National Association of Summer Olympic Sports at a meeting of that organization in the Olympic Committee building, the association's web site reported.

That automatically makes Lisin a vice president of the Olympic Committee, replacing Bogdanchikov.

Deputy Prime Minister and Olympic Committee president Alexander Zhukov was present at the event and thanked Bogdanchikov for his work. According to the Olympic Committee's web site, since 2005, when Bogdanchikov took the helm of the summer sports group, more than 300 million rubles (about $10 million) has been allocated to Olympic sports.

An Olympic Committee staff member said that sum was insufficient, and they had begun looking for a replacement for Bogdanchikov even before he left his position as Rosneft president last September.

Another Olympic Committee employee said Bogdanchikov left the Olympic Committee of his own accord, turning in a resignation in December. That source said the main donor to the committee during Bogdanchikov's time there had been Rosneft.

The oil company's web site says it is a general partner of the Sochi Olympics and has donated a total of $180 million.

Forbes claims that Lisin is the richest man in Russia, with an estimated net worth of $15 billion.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.