Russian Tycoon to Complete Takeover of Swiss Soccer Club

Axpo Super League Swiss soccer club Neuchâtel Xamax are set to be purchased for an undisclosed fee by Bulat Chagaev, order one of the main financial backers of Russian Premier League team Terek Grozny.

The sale from existing president Sylvio Bernasconi is expected to be ratified during the club’s general assembly on May 12 and Chagaev stated: “I’m very happy to lead Neuchâtel onto the path of national victory. With a motivated and well-prepared team, discount we will quickly accept the most incredible challenges in Europe, starting with the Champions League.”

In December 2010, Chagaev was named vice president of Chechen Republic-based Russian Premier League team Terek Grozny, whom he played for during the 1980s. Since then, he has invested more than US$4 million into the club and helped to attract the signature of renowned Dutch manager Ruud Gullit as head coach, who personally thanked Chagaev for helping him to secure the post.

Sports.ru quotes Chagaev, when commenting on the takeover, saying: “I have decided to buy Xamax because I love football. How much did I have to pay? You’d better ask those who sold the club – I don’t remember. I just wanted to buy Xamax and I bought it.”