VTB Group to increase FC Dynamo budget by RUB 800 mn

VTB Group will increase FC Dynamo Moscow’s budget for the next season by RUB 800 mn. This was announced to journalists by Yuri Soloviev, chairman of the board of the club, first deputy CEO and chairman of VTB at VTB Capital’s "RUSSIA CALLING!" forum.

"The Group will increase the club’s budget by RUB 800 mn, this is possible under financial fair play rules, because last year we finished the season with fairly good results, based on the start— said Soloviev. — We achieved all last year’s goals for the season. The club was qualified for European and the youth team was successful in the youth championship of Russia. From this viewpoint, we completed the program for both teams“.

Soloviev did not specify the overall budget for Dynamo for the next season, stating that it would depend on sponsors and on the transfer company. He also said that VTB has sold the 7% stake in Moscow Locomotive. “The seven percent stake, we do not have it anymore”, — said the chairman of the board of Dynamo.

VTB has been the general sponsor of Dynamo since 2008. This June the bank increased its stake in JSC MC Dynamo to 92,3%. Under a contract, which will terminate this December 31, VTB Group annually supports FC Dynamo for about RUB 1,8 bn.