Word: abramoviches
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...what's in it for ADUG? For super-rich investors, short-term profits are an unlikely motive. Russian oligarch Roman Abramovich has sunk more than $1 billion into Chelsea since buying the London club in 2003. But while that's earned the team two Premier League titles and a place in the finals of Europe's élite club competition, Chelsea still couldn't manage a profit...
...global reach of European, and particularly English, soccer has attracted two types of investors - entrepreneurs such as the Americans Malcolm Glazer (who owns Manchester United), Tom Hicks and George Gillet (who jointly own Liverpool) and Randy Lerner (Aston Villa); and billionaire prestige investors such as the Russian oligarch Roman Abramovich, who has invested more than $1 billion in Chelsea, and former Thai Prime Minister Thaksin Shinawatra, who last year acquired Manchester City. Chelsea, with its 42,000-seat stadium, might be considered an underperforming asset from a strictly business point of view; its revenues in the years since Abramovich took...
...transfer market may see something of a correction - a development that could make middling leagues more competitive. And heaven help clubs boosted by vanity investment if their benefactors were to suddenly walk away. Even before this summer's spending is added, Chelsea would have just 18 months to repay Abramovich more than $1 billion if the Russian moved on to a different hobby...
...were sparring over Iraq. The organization has taken off and has just given birth to the International Friends of the Louvre. Among the guests at the June gala were the billionaire Mexican art collector Eugenio Lopez, Malaysian tycoon Francis Yeoh and Dasha Zhukova, the girlfriend of Russian oligarch Roman Abramovich. There's also money to be found in France: as well as campaigning vigorously to convince major French companies to contribute, Loyrette has created a circle of young donors that is attracting a new generation of entrepreneurs...
...with Lokomotiv in Moscow. Enormous sums are also being spent to build or renovate stadiums and training centers - cheered on by Russian Sports Minister Vitaly Mutko, who heads the country's top football league and its football federation. And the largesse isn't flowing exclusively to the pro game: Abramovich contributes $55 million each year to Russia's fledgling youth development system. The London exile also paid the $2.65 million two-year contract to lure Dutch coach Guus Hiddink to Russia, hoping that he would work the same miracle with the national squad that he did during stints with South...