Putin finds new owner for CSKA

The involvement of Prime Minister Vladimir Putin was required to finally solve the financial problems of Russian hockey’s most titled club, CSKA Moscow.


According to Interfax news agency, WGC-3 Energy Company has sold 100 per cent of CSKA’s shares on Tuesday.

Neither the buyer nor the value of the deal has been revealed, but earlier media reports suggested that Rosneft Oil Company is likely to become the new owner of the Moscow team.

In October, CSKA’s management was forced to address Vladimir Putin, informing him unstable and untimely financing threatened the team’s very existence.  

Right after that, Russia’s Sports Minister Vitaly Mutko promised that the authorities would help the legendary club.

WGC-3 acquired CSKA for $300 million from the Norilsk Nickel company in January, 2011.
CSKA Moscow is the most-titled club in the history of Russian and Soviet hockey as the Army Men won the USSR championships 32 times along with 12 national cups.

The club now plays in the KHL, but has failed to reach its former greatness in recent years.  
This is not the first time that Vladimir Putin has rescued a sports team. Back in 2009, the prime minister found new sponsors for FC Tom, who were considering withdrawal from the Russian Football Premier League.

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