In 2015 two major sporting events took place in the Czech Republic. The 2015 IIHF World Championship will take place with the participation of sixteen teams from 1st to 17th May 2015. The Czech Republic will host the event and games will be played in Prague and Ostrava. UEFA European Under-21 Championship the final tournament will be hosted in the Czech Republic from 17th to 30th June 2015. The matches of the tournament will be played in Prague, Olomouc and Uherské Hradiště. According to theories a major sporting event leaves an economic impact on local economies. Sporting events provide new job positions for people who organize the tournament. Sporting events attract a lot of tourists, who spend money on accommodation, transportation, entertainment, tickets and retail. There are several economic impact studies which were made for such events in previous years and in different countries. International sporting events attract sponsor awareness and media attention which is also very important in promoting the Czech Republic as the tourist destination. The research paper focuses on the overview of the economic impact of these sporting events which took place in the Czech Republic in 2015. The economic impact is divided into three categories. Firstly, the economic impact of sports federations – Czech Ice Hockey Federation (ČSLH) and Football Association of the Czech Republic (FAČR). Secondly, the economic impact of the hosting cities – Prague, Ostrava, Olomouc and Uherské Hradiště. Finally, the impact on the whole of the Czech Republic. The costs involved for these events are expenditures of public budgets on football stadium investment and infrastructure, costs for the organization of the event – staffing, renting the facilities, security, logistics, marketing, media operations and other costs. With regard revenues of the event, there are TV rights, international and local sponsors, contribution of international sports federations, contribution of local or state public budgets, ticket sales and other revenues.