UEFA to inquire Abramovich’s interest in Russian CSKA

UEFA Champions League draw which saw the English Premier League club Chelsea owned by Roman Abramovich paired against Russian CSKA Moscow, may lead that Chelsea or CSKA Moscow could be expelled from the Champions League if it is discovered that Abramovich has a controlling interest in the Russian champions. Under UEFA regulations, “no person may simultaneously be involved either directly or indirectly in any capacity of more than one club participating in the same UEFA club competition”. Since Abramovich is a leading shareholder in Russian oil giant Sibneft, which sponsors CSKA and he is widely known in Russia to have a close friendship with CSKA president Yevgeny Giner, UEFA has decide look into this matter thoroughly. The Russian club majority shareholder is Bluecastle Enterprises Ltd, a British company based in Stevenage which holds a 49% stake. Bluecastle is owned by a Dutch holding company called Macasyng Holding BV. Preliminary UEFA checks have shown that Abramovich does not own a controlling interest in both clubs, but UEFA also say that its initial checks are "superficial". The governing body is now ordering a more thorough investigation of CSKA's financial set-up. However, while European Union competition laws and UEFA's own club regulations forbid an individual owning a major share of two clubs in the same competition, there are no rules limiting the amount by which an individual can sponsor another club. UEFA’s chief executive Lars-Christer Olsson said that the governing body would review the current laws to ensure that they do not present a loophole for conflicts of interest to arise.

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