The Latvian Basketball Union has been awarded 211,716 euros for winning fifth place in the 2023 World Basketball Championship. Of that sum, 106,716 euros were allocated to the Latvian basketball team as a prize, and 105,000 euros to cover the organizational costs necessary to ensure full participation in the final tournament.
"I am pleased that, also in this form, we can once again thank our great basketball team for the unity and patriotism that they allowed us to experience, and I am sure that this success will motivate children and young people to play sports," said Minister of Education and Science Anda Čakša.
The prize money was awarded from the state budget for contingencies. Earlier in the year, Latvia's hockey team were also given bonuses for earning a bronze medal at the IIHF World Championships.
Cash prizes for outstanding achievements in sports are awarded in accordance with the Sports Law.