Zenit Saint Petersburg in property deal

Adjust font size:

The Premier Liga club is set to build new homes on 150,000 squared meters of land. The club, sponsored by the Saint Petersburg Bank, is also embarking on a building project at their academy in Smena, constructing four training fields, a small hotel and several tennis courts. Revenues from the ventures are expected to net between US$ 165m to US$ 180m. The club is likely to make cash profits in the region of US$ 22.5m. David Shaginyan, the club commerce director said that the projects are responsible for providing the funds for 25% of the club’s budget.

The club follows Lokomotiv Moscow which invests in property asserts and owns a railway terminal, a fitness centre and an entertainment park. Lokomotiv's properties assisted the club to stand a budget in the region of US$ 50m for 2005 season.