the Football club “Dynamo-Moscow” has agreed to sell VTB belonging to him according to the investment agreement share in the development project “VTB arena Park”, told “Vedomosti” Chairman of Public-state Association “all-Russian sports society “Dynamo” (WOW VFSO “Dynamo”), Vladimir Strzhalkovsky. The society owns a 25% stake in the football club.
the Project “VTB arena Park” provides for the construction of a total of about 500,000 square meters of real estate, including the stadium on 26 319 seats, a universal arena, entertainment complex and underground Parking, as well as the complex of 12 buildings, which will house offices, apartments and hotel – Hyatt Regency Moscow Petrovsky Park. The total cost of the project, VTB was estimated at $ 1.5 billion.
“Part of this [received for the shares] of the sum intended to repay current debt obligations, of course, the most significant amount is the salary of players. Part is intended for the decision of a question on decrease in debt burden,” – said through his representative Strzhalkovsky. The General Director of FC “Dynamo-Moscow” Eugene Ants in an interview with “Soviet sport” estimated payroll of $ 20 million.
Strzhalkovskiy expects that the proceeds will suffice to pay off the debt to VTB. The amount of the transaction and the size of the debt he did not disclose. It is known that by the end of 2015, the club had to VTB and its structures more than 5 billion rubles.
VTB became the owner of controlling stakes of FC “Dynamo-Moscow” and managing company “Dynamo” (owns the lease on 31 hectares in Petrovsky Park and is engaged in the investment project “VTB arena Park”) in 2009.
Then the debts of the club more than $ 240 million was converted to 74% and 75% minus 1 share of FC and MC Dynamo, respectively. According to the company “neo centre”, VTB, in 2008, 100% of FC and MC “Dynamo” was worth $ 516 million At that time, the football club owned the stadium and arena in Petrovsky Park and the training base in Novogorsk. And the market value of the team exceeds $ 50 million, considered the former General Director of club Dmitry Ivanov.
In 2015, when UEFA suspended the club from European competition for one season due to violations of financial fair play, requires that the spending of the club was proportionate to his income, it became known that for 2013-2015, the government has spent in support of FC “Dynamo-Moscow”, more than 260 million euros. The deficit of the club for three years exceeded 307 million euros.
Novogorske Dynamo
After the sale of VTB debt share in the investment project “VTB arena Park” FC “Dynamo-Moscow” were only training base in Novogorsk: three soccer fields with bleachers for 1500 spectators, tennis court and sports complex with an area of 838 sq. m. 24 Until November 2015 all the property base “VTB training center “Novogorsk Dynamo” was pledged to the Bank of Moscow on a three-year loan for 880 million rbl. the Price of the underlying asset of FC “Dynamo-Moscow” – the Internet portal Transfermarkt.com assessed in 2016 21.51 million pounds against 91,52 million pounds in the 2015/16 season.
By the end of 2015 the total debt of one of the most famous Russian football clubs have reached 10.9 billion RUB In may 2016, “Dynamo-Moscow” for the first time in the history of the club was relegated to the lower League, finishing in the Premier League the 15th place. Sponsorship of VTB in 2016 was reduced in 2 times – up to 2.25 billion rubles After that, the club was on the verge of bankruptcy. According to the representative of “Dynamo-Moscow”, the exact size of the debt of the club now is difficult to assess because of the changing of the Euro, the growing interest and arrears of salary to the players.
Now VTB has proposed to the Central Council of the OLYMPIAD “Dynamo” to buy him a 74% stake in “Dynamo-Moscow” for a symbolic ruble, said Strzhalkovsky. The press service of VTB confirmed to “Vedomosty” the direction of such offer. Now the deal is being prepared, said the representative of the Bank. According to him, VTB has the necessary permissions in the relevant Supervisory authorities and expects to complete the deal before the end of the year.
However, the potential buyer is not so categorical. According to Strzhalkovsky, the Central Council of “Dynamo” not ready to become the sole owner of the football club. “The question, by what means this purchase can be paid, not worth it. Another thing that you need to clearly understand the consequences of such a step. No football team exists today without sponsors. So hypothetically, if I decided to take this step, the management and the owner of the team must clearly understand what are the sources and amounts of funding [football club]” – he gave the “Vedomosti” through a representative.
All decisions about the future of the football club, including its further funding will be made in close cooperation with the main shareholder – VTB, said Strzhalkovsky.
“the Current leadership under very difficult conditions. No money, but clubs need to Finance. And wanting to take [the club] is unlikely to find in current conditions,” – said the former President of FC “Dynamo”, the General Director of Agency on insurance of contributions Yury Isaev. In his opinion, the loss of a share in “VTB arena Park” was probably inevitable. “But to redeem the share of VTB in FC did not. It will be a fatal error, though VTB, of course, also fed up with the project and didn’t sign up for so long to bear this burden,” warns Isaev.
VTB has announced that it will allocate EUR 10 million sponsorship for next year. But while the agreement is not signed and assume that the money the club already has, not, said the representative of “Dynamo-Moscow”. So understanding what the club’s budget for next year, no, he continues. At least the club will not buy new players because the team and now is a good composition, he adds.
the Owner of just over 1% of shares of FC “Dynamo-Moscow” is Alisher Usmanov, a longtime fan of “Dynamo”. Owned by businessman metalloinvest had saved the club in 2008, becoming for a short time as its General sponsor. In December 2015, Usmanov paid off the debts of the hockey club “Dynamo” – about the Agency “R-sport” said the former President of this club Arkady Rotenberg. Are there negotiations with Usmanov for the sale of FC “Dynamo-Moscow”, “Dinamo” did not answer. To obtain comments from Usmanov failed.
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