INNOVATIONS IN SPORT FINANCING IN THE SLOVAK REPUBLIC

Sport is an important social phenomenon that promotes social and cultural values such as peace, respect for human rights, solidarity, and mutual understanding between nations and cultures. At the same time, sport is also an important economic reality. Therefore, the funding of sports is an important priority, and, in addition to the above-discussed benefits, it also brings economic benefits. The basic goal of the present study is to provide an overview of the financial mechanism and to discuss the sources of funds for sporting events in the Slovak Republic. The funds from the State budget allocated for sporting activities in the form of contributions to recognised sports, subsidies and contributions to a national sports project are described in detail for its implementation. Furthermore, pre and post Covid-19 pandemic sports legislation in Slovak legislation were compared. At the same time, these new legal regulations were compared and interpreted from the context of the legal orders of the Slovak Republic.