MOL To Donate USD 8 Million To Hungarian Soccer Association In 2016

  • 21 Jan 2016 8:00 AM
MOL To Donate USD 8 Million To Hungarian Soccer Association In 2016
Hungarian national oil and gas company MOL will donate HUF 2 billion (USD 7 million) of pre-tax profits to the Hungarian Soccer Association (MLSZ) in 2016, announced MOL CEO Zsolt Hernádi (left) and MLSZ president Sándor Csányi (right) at a joint press conference on Wednesday afternoon. The money is to be used to develop new players and infrastructure.

NOTE: An earlier version of this article incorrectly stated that MOL CEO Zsolt Hernádi (left) was the subject of an international arrest warrant. In fact, he was only the subject of an international arrest warrant through November 25th, 2015. We apologize to Mr. Hernádi for the mistake.

MOL also plans to donate an additional HUF 285 million (USD 1 million) in 2016 for MLSZ to do with as it pleases.

In Hungary so-called TAO corporate donations to sport organizations meeting certain criteria are fully deductible. According to Transparency International, such contributions pose a high corruption risk.

Hernádi, who was indicted by Croatian prosecutors in June 2014 for allegedly bribing former Croatian prime minister Ivo Sanader, but subsequently acquitted by a Hungarian court, said it is an honor to support Hungarian soccer.

He was confident the donation would contribute to the national team’s performance at the Euro 2016 championships in France in June.

“The strength has awakened,” said Hernádi. “The successful qualification [for Euro 2016] is proof that with belief, will and effort it is possible to achieve anything. That is also our business philosophy.”

Source: The Budapest Beacon

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