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VTB will get rid of the stock football Dynamo

ВТБ избавится от акций футбольного "Динамо"

The head of VTB Andrey Kostin has told that the company before the end of the year for a nominal fee will give a stake of the Moscow football club “Dynamo” Central Council. His words on Thursday, June 16, leads TASS.

“”Dynamo” — a failed project from the point of view of public relations and advertising. Until the end of the year we for a nominal fee will give our entire stake in the Central Council of “Dynamo”. Sponsorship contract in the future will be small,” — said Kostin.

He also noted that funding for the teams is significantly reduced. “It’s not really our business. And to manage the club, we can’t,” added Kostin.

At the end of last season “the Dynamo” has occupied 15-e a place in standings of the Russian football Premier League (RFPL), and for the first time in history left the top division domestic championship. Next season the club will perform in the national Football League (FNL).

VTB Bank acquired 74% of shares of “Dynamo” in 2009. In 2015 the company spent on a sponsorship deal with the club 4.5 billion rubles.

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