PFC CSKA completed the procedure for changing ownership – media

Moscow PFC CSKA has completed the procedure for changing ownership, Kommersant reports.

According to the source, more than 77% of the football club’s shares were transferred from VEB.RF to the Balance Asset Management company, controlled by businessman Vitaly Balanovich.

The parties agreed that the sports part of the club’s activities will remain with the current minority shareholders, that is, the president of the club, Evgeny Giner. At the same time, Balanovich intends to develop business on the basis of the real estate complex of the CSKA football club. The value of the deal was not disclosed.

— The current situation has allowed us to take a fresh look at the club’s business model as two key areas — sports and real estate. We received an offer from Vitaly Balanovich, a manager with extensive investment experience in the real estate market in Russia, including redevelopment of existing properties into new formats. His company will attract investment in the development and management of PFC CSKA real estate. Control of the sports part of the business will remain with the current minority shareholders.” The largest of the minority shareholders is the president of FC CSKA Evgeny Giner, Kommersant quotes a statement from VEB.RF.

VEB.RF became the owner of CSKA in April 2020. Before that, CSKA belonged to Bluecastle Enterprises.

In the current draw of the WORLD RPL, CSKA scored 20 points after 10 rounds and is in third place.