Alexey Sorokin has been appointed as Organising Committee President for the World Friendship Games ©Getty Images

Former Russian Football Union (RFU) secretary general Alexey Sorokin has been appointed as President of the World Friendship Games Organising Committee while International Boxing Association (IBA) President Umar Kremlev will assist with prize money.

The event was created in response to Russia being sanctioned by the international sporting community for its invasion of Ukraine.

The 51-year-old Sorokin also served as director general of the RFU and was appointed as Local Organising Committee chief executive for the 2018 FIFA World Cup in Russia.

Sorokin and the Organising Committee are required to submit the final concept of what the Games in Moscow will look like to the Russian Sports Ministry.

An agreed preliminary cost estimate, budget, and potential overdraft is also needed by a July 10 deadline.

The IBA leader Kremlev has been enlisted to help attract sponsors for the Games and form its prize fund.

Despite his organisation being expelled from the Olympic Movement this week, Kremlev is committed to pumping more money into its operations in the pursuit of developing "pro-style boxing".

Next year's IBA Women's World Championships are set to have a total prize pool of $4.8 million (£3.8 million/€4.4 million) across 12 weight categories with gold medallists taking $200,000 (£161,000/184,000).

IBA President Umar Kremlev has been tasked with attracting sponsors for the World Friendship Games and setting the prize pool ©IBA
IBA President Umar Kremlev has been tasked with attracting sponsors for the World Friendship Games and setting the prize pool ©IBA

It will be a 100 per cent increase as champions were awarded $100,000 (£80,200/€91,400) at the last edition of the event in New Delhi earlier this year.

Russia's Presidential Council Secretary for the Development of Sports Marat Filippov has said that preparations are already underway for the World Friendship Games. 

The Organising Committee has also requested that Russian federations send their proposals for participation in order for the sporting programme to be compiled.

National Federations are expected to detail the type of sport, the estimated number or teams, and the number of athletes, coaches, and referees.

The application also needs to indicate which facilities will be required to host the sport, estimated costs of holding it, and the amount of prize money on offer.

It is aimed to host the Games on a quadrennial basis with the inaugural edition planned to take place shortly after the Paris 2024 Olympics, which are scheduled for July 26 to August 11.

The event proposed by Putin appears to be the resurrection of the Friendship Games - a multi-sport event that was run by the Soviet Union and eight of its allies after the country boycotted the Los Angeles 1984 Olympics.