Soccer share buyout

In an investment move reminiscent of a certain Mr Abramovich, Russian billionaire Arkdy Gaidamark has acquired Betar Jerusalem, Jerusalem’s premier soccer team.

Gaidamark bought out Meir Fenigel and Meir Levy’s soccer shares in a 100 per cent buyout.

Gaidamak intends to transform Betar Jerusalem into not just the best soccer team in Israel, but also one of the best football teams in Europe to rank alongside Liverpool FC and of course Chelsea FC.

The Russian billionaire is estimated to be worth in the region of $3 billion dollars. Much of Mr Gaidamak’s wealth is expected to be invested into the football team in order to achieve better on the pitch results.

Money has proven to talk in football, look at Blackburn, Real Madrid and Chelsea. Expect to see Betar competing in the latter stages of the Champions League in a few year down the line.

Date: 30.08.05

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