Fedorychev sells majority stake in Russian Dinamo

Alexei Fedorychev agreed to sell more than half of the ownership of Russian Premier Liga club Dinamo Moscow to the Central Council of Dinamo.

The details of the deal will be revealed later this week, according to Sport Express.

Fedorychev and his Monaco-based company Fedcominvest bought the controlling stake of Dinamo last year, with Fedorychev reportedly investing US 60 million in the club.

The club has struggled to avoid relegation. The Russian press reported players went unpaid for several months and threatened to stage a strike earlier this month. The action was averted after Vneshtorgbank agreed to loan out US 20 million.

Fedorychev apparently lost interest in administrating the club after he failed to secure a deal to acquire real estate around the Dinamo Stadium, which was part of the project he mapped out when he bought the club.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.