Russian investors on Portsmouth purchase: It’s business, not entertainment

Head of Convers Group Vladimir Antonov has spoken about the upcoming acquisition of the English club FC Portsmouth and has explained why he had not bought a club in Russia.

«What has caused your interest to Portsmouth who had been relegated from the Premier League? Are you really buying them?»

«We’ve been conducting the negotiations for a long time. We already have the approval of the British Football League, but the commercial issues are still to be settled.»

«Is it true that the club’s debt now makes over £100 million?»

«No, it’s not true. The current owners have acquired the club after the restructuring had been performed, so if we buy it today we buy it without any debt whatsoever.»

«What is the purchase of Portsmouth for you – a hobby or a business? Or maybe Roman Abramovich’s example has proved so catching for the big Russian businessmen?»

«For me it’s just business. If I wanted some entertainment, I would buy a season ticket, not the whole football club.»

«Are there any examples of Russian businessmen making good business on English clubs?»

«If Roman Arkadyevich would decide to sell Chelsea, his profit from this operation will be very high.»

«Do you have any estimates of the amount required to get Portsmouth back into the Premier League?»

«Our business plan has been approved by the Football League. Yes, it implies the improvement of the team’s squad and the reconstruction of the stadium, which will demand certain investments, but they won’t be sky-high. Moreover, next year the Fair Play regulations will come into effect in England, prohibiting the clubs from spending more than they earn.

In sports you can spend billions and remain without Premier League promotion or you can invest much less money, but make it in a right way and be very successful. A remarkable example of that is Blackpool which had been acquired by Latvian businessman Valery Belokon and his partners. They have bought the club in the fourth league, have taken it carefully into the championship, and then even into Premier League. That’s how you should manage a football club. The promotion into the English Premier League is rewarded with a £90 million bonus. That’s the business.»

«Have you ever considered Russian football for business purposes?»

«We’ve had an unsuccessful attempt to buy FC Moscow, there were no other offers except that. It’s hard to start from scratch, while the prices of commerially successful Russian clubs are too high,» stated Vladimir Antonov in his interview with the Russian edition of Forbes.