The Russia-based Kontinental Hockey League (KHL) chalked up 3.5 billion rubles (over $50.3 million) in revenue for the 2017/2018 season, KHL President Dmitry Chernyshenko told journalists on Friday.
"The Board of Directors approved the distribution of a record-high sum of 400 million rubles among the clubs," Chernyshenko said. "We are very pleased to announce that our revenues are on the rise."
"The total revenue from the past season hit 3.5 billion rubles," the KHL president continued. "Our sponsorship income experienced a 20-percent increase, while the revenues from the sales of broadcasting rights jumped 15%"
The Kontinental Hockey League was founded in Russia in 2008 and currently lists 25 professional ice hockey clubs from Russia, Belarus, China, Finland, Kazakhstan, Latvia and Slovakia.
International experts deem the KHL as the premier ice hockey league in Europe and Asia ranking it as the world’s second most important right on the heels of the US-based NHL (National Hockey League).