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Krylya promises back pay
Russia - 16 October, 2007
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Russian Krylya Sovetov Samara will pay up on a three-month debt to its players.
The club, which is in financial turmoil, received a letter of guarantee from a bank for EUR 5.7 million.
"The letter as a guarantee for the club was received by the authorities," deputy director Vladislav Shestakov said. "Part of the money will be switched to pay the salary debt."
Roman Abramovich's investment company recently sued the club for USD 7 million in unpaid loans. Krylya president Alexander Baranovsky said the club would repay the loan with help from the regional government, but the debt is still not repaid.
The club, which is in financial turmoil, received a letter of guarantee from a bank for EUR 5.7 million.
"The letter as a guarantee for the club was received by the authorities," deputy director Vladislav Shestakov said. "Part of the money will be switched to pay the salary debt."
Roman Abramovich's investment company recently sued the club for USD 7 million in unpaid loans. Krylya president Alexander Baranovsky said the club would repay the loan with help from the regional government, but the debt is still not repaid.
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