March 9 – Russian national team manager Fabio Capello and his compatriot Oreste Cinquini, the team’s general manager, have at last been paid the outstanding salaries owed to them going back to June of last year. Reports are that the Russian Football Union (RFU) has now paid the outstanding $5.96 million up to February.
The source of the money for Capello’s salary is from Russian billionaire (and Arsenal shareholder) Alisher Usmanov.
One of the issues for the length of the outstanding debt appears to be the currency exchange rate. As the ruble plumeeted in value, so the cost of Capello, whose salary is not paid in rubles, rose in cost.
Capello’s son Pier Filippo, who acts as his manager, said earlier that the RFU was trying to play with the ruble’s volatility and repay the debt to the Italian coach at a currency exchange rate different from the current one. The RFU was reportedly negotiating on the exchange rate.
In December the ruble slumped to a record low of 75 rubles to the dollar. In September it had been 38. It is currently around 62.
Capello never left his post despite going unpaid. One rumour was that the RFU had hoped that by not paying him he would leave the country and break his contract. Following the world cup in Brazil there was criticism of the Russian team performance and a feeling within the RFU that Capello was not the man to lead them into a home World Cup in 2018.
However, Capello stayed. Sports minister Vitaly Mutko has been a strong supporter of the Italian and fierce critic of the RFU’s financial management. He was instrumental to Capello’s initial appointment.
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