Dynamo’s last season performance allowed VTB to increase club’s budget by RUB 800 mn, in line with FFP

Dynamo’s last season performance allowed VTB to increase club’s budget by RUB 800 mn, in line with FFP

FC Dynamo Moscow’s last season performance, when the club was qualified for European cups and successfully played in the youth championship, enabled VTB (MOEX: VTBR) to ram up financing without violating financial fair play, said Yuri Soloviev, first deputy chairman of VTB.

"The Group increased its sponsorship by RUB 800 mn", - said Soloviev, who heads Dynamo board of directors, at a press conference on the sidelines of "RUSSIA CALLING!".

"This is possible under financial fair play rules, because last year we finished the season with fairly good results, based on the start. We achieved all last year’s goals for the season. The club was qualified for European cups (I will not comment on the result of the process now) and was successful in the youth championship of Russia. From this viewpoint, we completed the program for both teams ", - he said.

"True investment banker! He will produce a favorable impression in any situation! Everything achieved... We’ll see!", - replied VTB head Andrei Kostin. He criticized Dynamo for the sudden dropout from the Europe League and quoted "The short-distance skater song" by Vladimir Vysotsky: "I feel sorry for the coach, he’s not a bad guy...".

"There’s nothing to be proud of, because we failed in the qualification round with a bang ", - agreed Soloviev.

Nevertheless, the last season’s results allow to include the increased sponsorship package of VTB "into the settlement structure under FFP", he added. Soloviev did not comment on the overall budget amount for Dynamo, stating that it depends on other sponsors and also on the winter transfer company.

"We are making targeted reinforcement in the two last transfer windows, and we will work in this mode", - he concluded.

The new coaching staff, headed by Sandro Schwartz, a German coach, according to Soloviev, has a complete set of key performance indicators, tide to game quality improvement and Dynamo results. "Now we are fifth. We’d like to be higher", - said the chairman of the board of the club.