The Russian oil company “Lukoil” announced on Monday the purchase of the football club “Spartak” Moscow, as well as the stadium where they play their home matches, Reuters reports.
Spartak is facing financial difficulties after Russia’s military intervention in Ukraine, which triggered a wave of Western sanctions against Moscow and further isolation of the Russian business community.
Lukoil, which has been the main sponsor of Spartak Moscow for more than two decades, said it has acquired the entire stake in the Russian capital club, meaning long-time owner and group chairman Leonid Fedun will step down from all of his management positions.
In June, Fedun left the position of vice president of Lukoil. The billionaire bought the Spartak club in 2004, when it was going through a period of serious financial difficulties.
In May of this year, the American company Nike terminated the sponsorship contract with the Moscow “Spartak” – a team that has ten championship titles of Russia, but will not participate in the new season in the European Cups because of the war. Russia in Ukraine.
Moscow “Spartak” also disbanded its second team, citing financial difficulties and the need to reduce the budget, writes Agerpres.
Source: Hot News RO
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