Terek vice-president set to buy Swiss top division club

Terek vice-president Bulat Chagaev may become new owner of Swiss club Xamax Neuchatel.

Xamax honorary president Gilbert Facchinetti has revealed that the representatives of Chechnya may become major shareholders in Xamax, but insisted he doesn’t know anything else. In the meantime, Chagaev is a top manager and, probably, a shareholder of the Swiss-based company SovAmericanTrade.

In his interview with Le Matin, Facchinetti said: «I am aware of the deal, but I know nothing about its details. The only evident thing is that if the Chechen businessmen become owners of the club, it will mean they have more than 50 percent of its shares.

Of course, we are not familiar with the people who will control the club, and everybody would be delighted if they were British, for example. It is always hard to face new challenges, but we have to be honest with ourselves and admit we have no other way. In Switzerland it is extremely hard to stay afloat financially.

The sale of the club is a very serious deal and we have no choice but to make it. We also have to trust the future owners. I know Andrey Rudakov as he has played for different clubs in Switzerland. Morover, the new owner’s decision to settle in Switzerland also instills confidence. I’d like to look into the future in an optimistic way.»

According to the statement on Xamax official website, the names of the new owners will be disclosed on May 12. Xamax is currently 8th in the Switzerland’s 10-team Super League.