Russia gains official status as 2018 Soccer World Cup host

A declaration on Russia's official status as the host of the 2018 FIFA World Cup was signed by FIFA and Russian officials today in the Russian city of St. Petersburg, RIA Novosti reports.

FIFA President Joseph Blatter met with Russia's Sports and Tourism Minister Vitaly Mutko, President of the Russian Football Union Sergei Fursenko, and CEO of the Russia 2018 bid Alexei Sorokin at the signing ceremony.

Russia won the right to host the 2018 FIFA World Cup on December 2 in a vehement competition with such countries as England, the Netherlands, Spain and Portugal.

Russia pledged to spend about $10 billion on preparations for the World Cup and to ensure "the best conditions for players as well as for the spectators during the event."

Russian Prime Minister Vladimir Putin has already ordered the establishment of an organizing committee in charge of preparing and holding the World Cup.