The Cyprus Basketball Federation (CBF) on Tuesday presented its candidacy bid to host the Group Phase of the Fiba Eurobasket 2025 in Limassol.
“The CBF and our country are before an opportunity of historic significance, to seek a major sport event which could constitute a landmark with sport and social prospects,” CBF head Andreas Mouzourides told those attending the candidacy event.
Apart from Cyprus, Finland, Hungary, Latvia, Russia and Ukraine have also submitted official bids to host the major event to be held in September 2025.
The 2025 Fiba Eurobasket marks the first time Cyprus has entered the official bidding process.
Present at the candidacy event were Finance Minister Constantinos Petrides, MPs and sports stakeholders such as the Cyprus Sport Organisation and the Cyprus Olympic Committee.
Cyprus’ bid was officially submitted in August 2021 while another presentation will be made in Munich in March 2022.
According to Mouzourides, an assessment by audit firm EY, commissioned by the CBF, showed that Cyprus would be called to spend €5.6 million while income generated from the hosting of the event is estimated at €12.9 million.
Expenditure includes €2.8 million in rights and other obligations to FIBA Europe, €1.8 in expenditure associated with the event and approximately €1 million for the renovation and the increase of the capacity of the Spyros Kyprianou sports arena that would host the Group Phase.
Income includes €9 million from foreign fans, foreign journalists and sports delegations visiting Cyprus and an additional revenue of €3.9 million from domestic fans.