Organizational and Legal Aspects of State Financing of Sports in Foreign Countries

The paper is dedicated to the study of the financial and legal mechanism of the sports industry, its aspects associated with financing sources, means of accumulation and use of financial resources from budgetary and extra-budgetary funds. The author analyzes experience of financing and legal regulation of sports, notes similarity of goals and differences in their achievement. A conclusion is made about an optimal model that combines various types of budgetary financing and private financing. The subject of the study is the financing mechanism and legal regulation of sports in China, the USA, Great Britain and countries of the European Union. The purpose of the article is to determine priority sources of sports financing.