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Fedorychev sold Dinamo Moscow
Russia - 29 January, 2007
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Russian businessman Alexei Fedorychev, who owns Fedcominvest, sold Russian Premier Liga club Dinamo Moscow for approximately USD 9 million to the Central Council of Dinamo.
Fedorychev took over Dinamo in 2004 and promised he would invest about USD 150 million. He did spend more than USD $100 million on players since he took over the club.
Dinamo, the only Russian club never to be relegated, struggled both on and off the field and finished last season just outside the drop zone. That was the season the players did not get paid for several months and the predicament was only resolved when Vneshtorgbank opened a credit line of USD 20 million for the club.
Fedorychev took over Dinamo in 2004 and promised he would invest about USD 150 million. He did spend more than USD $100 million on players since he took over the club.
Dinamo, the only Russian club never to be relegated, struggled both on and off the field and finished last season just outside the drop zone. That was the season the players did not get paid for several months and the predicament was only resolved when Vneshtorgbank opened a credit line of USD 20 million for the club.
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