By Alexander Krassimirov
July 31 – Russian champion Zenit St. Petersburg has recorded colossal losses for the season ending 2014 according to the annual report of SPARK – Interfax. Despite winning the title in Russia, Zenit’s loss amounted to 5.2 billion rubles ($86 million). In 2013 Zenit’s losses were only 320 million rubles ($5.3 million).
To date Zenit was not been punished by UEFA under its Financial Fair Play rules, unlike Russian rivals Dynamo Moscow, which had racked up losses of 2.55 billion ($44 million) – roughly half that of Zenit. Dynamo Moscow was sanctioned with suspension from the Europa League.
Zenit’s protection from UEFA sanction is being attributed to its lead sponsor Gazprom, also a major sponsor of the Champions League.
Dynamo losses for 2013 amounted to 1 billion rubles, increases 2.5 times the following year. In contrast Zenit losses grew a bumper 17 times.
Meanwhile, Anzhi Makhachkala was the most profitable Russian club, although last year the team from Dagestan competed in the second tier of Russian football.
With a change in ownership and club management, Anzhi who had gone through a massive spending spree and even qualified for the Champions League, offloaded an expensively acquired and highly paid squad, resulting in their relegation from the top flight.
But the balance sheet improved in 2014 to a profit 4.2 billion rubles ($70 million), reversing a loss of 1.7 billion ($28 million) in 2013, and 3 billion rubles ($50 million) in 2012.
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