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SBD Global/September 3, 2014/Finance

Russian Energy Provider Gazprom Set To Buy Serbian Club Crvena Zvezda FC For $132M

Gazprom reportedly set to pay $132M for Serbian football club Red Star.
Serbia's daily Blic reported Russian energy provider Gazprom "is likely to purchase" Serbian football club Crvena Zvezda (Red Star) for €100M ($131.9M), according to ITAR-TASS. According to the newspaper, if the deal on the club’s purchase goes through, Gazprom "will be also the owner of a land area in Belgrade, where Crvena Zvezda’s 55,000-seat capacity stadium and other club’s facilities are located." As part of the deal at the issue, the Serbian government "will receive a compensation" of €40M ($53M), Belgrade’s municipal budget will gain €20M (more than $26M) and €40M ($53M) "will be channeled to repay the football club’s debts." Gazprom "has been the official sponsor of the titled Serbian football club since the five-year sponsorship contract was signed on July 12, 2010." Crvena Zvezda FC "is the most titled Serbian football club" (ITAR-TASS, 8/28).
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