Dynamo Complete Takeover of WSB’s Moscow Franchise

January 20, 2011

The Boxing Federation of Russia have brokered a deal which sees the country’s top sports club, Dynamo, takeover the Moscow franchise of the World Series of Boxing (WSB). The new agreement was announced after the current Moscow franchise was terminated due to a breach of financial obligations and will begin with immediate effect.

A statement from the WSB read: “The current Moscow franchise has been in breach of its agreement with the WSB since before the start of the season, notably with respect to non-payment of financial obligations towards the WSB. Despite numerous reminders there has been no attempt by the franchise owner to remedy the situation. The agreement with the current franchise owner has therefore been terminated with immediate effect.”

The team will now be named Dynamo Moscow upon entering its first match against the Istanbulls away on 28 January before the first home match on 5 February in a new home venue.

Dr C. K. Wu, AIBA President and WSB Chairman, welcomed the new agreement: “I am delighted that we have been able to resolve this issue with the help of the Boxing Federation of Russia and Dynamo,” he said. “The WSB will not tolerate any impropriety in any of its franchises and will not hesitate to take action to protect its interests if agreements it has in place are not respected. We have had an excellent start to the inaugural season with universal acclaim from boxers and fans alike. We will not let this be jeopardized.”