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Russian oil firm Lukoil acquires Spartak Moscow soccer club

August 22, 2022

Russian oil firm Lukoil said on Monday it had purchased Russian Premier League club Spartak Moscow, as well as the Moscow stadium where it plays its home matches.

Spartak is reeling from financial problems in the wake of Russia’s military intervention in Ukraine, which prompted a flurry of Western sanctions against Moscow and further isolated the Russian business community.

Lukoil, which had been Spartak’s general sponsor for more than two decades, said its acquisition of a 100% stake in the club meant that long-time owner and president Leonid Fedun would be relinquishing all of his managerial roles.