Not only a yacht and an apartment: what else will Leonid Fedun sell

Former vice-president of the oil company Lukoil Leonid Fedun put up for auction his apartment in the center of Moscow. “Mansions are now being sold for 150 million rubles,” writes the SHOT telegram channel. We found out what else the oligarch has in his stash.

In addition, Leonid Fedun is selling for €99 million the motor yacht Sparta, which was custom-made for him at Dutch shipyards a couple of years ago. The vessel measures 67 meters in length and is equipped with a Jacuzzi, an infinity pool, an oval Jacuzzi with an attached bar, sun loungers, a sauna and steam room, a limousine garage, a spiral staircase and a glass elevator connecting all decks.

Now about Fedun’s business assets. The businessman is one of the few Russian oligarchs who escaped Western sanctions after the start of the SVO. According to SPARK, Fedun remains a member of the board of directors of the Lukoil oil holding, the owner of 1.45% of shares worth 3 trillion rubles. In the past, he owned 40.01% of the shares of the investment company Reserv-Invest, 1423% of the shares of the Tennis VIP Club, he was the chairman of the board of directors of Petrocommerce Bank, and a member of the board of directors of the oil and gas company Lukoil-Perm.

After the start of the special operation, Leonid Fedun publicly complained about the “huge difficulties” that arose for him, but behind the scenes he allegedly mourned the loss of 99% of his funds. Bloomberg experts calculated his losses at minus 80%. However, according to recent Forbes data, things are not so bad for Fedun. Yes, he turned out to be one of the most impoverished Russian billionaires due to the SVO. But in the end, his family’s capital decreased by only a third (minus $4.2 billion), and now stands at $9.2 billion.

But what about Fedun’s most public capital – sports? Let us remind you that on August 22 it became finally known that the entrepreneur sold his most beloved and most expensive brainchild, Moscow Spartak, to Lukoil. Along with 100% of the shares of JSC Football Club Spartak-Moscow, the Otkritie Arena stadium went to the new owners, and the entrepreneur himself not only resigned from the team’s shareholders, but also resigned as president, member and chairman of the board of directors of Spartak. , ceasing to take any part in the management of the club.

Fedun owned the people’s team for 18 years and 4 months. But he bought Spartak gradually. Even under the previous owner Andrei Chervichenko, Leonid Arnoldovich first bought out 30 percent of the shares, and in 2004 became president of the club. At the same time, the media cited the figure of $70 million that he paid for the club.

However, Fedun was not the sole owner of Spartak; Lukoil President Vagit Alekperov shared the costs of maintaining the club with him. Back in 2019, Forbes reported that Fedun had only 32.7% of the shares, and Alekperov – 36.7%. At the same time, part of the assets belonged to structures associated with IFD Kapital, a subsidiary of Lukoil.

Of course, it is impossible to find out the complete data on how much Spartak cost Fedun, but some figures were leaked to the media. So, in 2015, Alekperov said in an interview that Lukoil paid only the funds required under the contract – about six million dollars a year, the rest was his and Fedun’s personal money. More precisely, 60 million dollars a year – this amount was mentioned by both Alekperov and Leonid Fedun. But this was back in 2013-2015. It is clear that the budget increased every year, the income did not keep up with them. The well-known online resource Transfermarkt estimates the club’s expenses on transfers over 19 years at 401.6 million euros, and income at only 233.35 million euros. 1.7 times less.

If we count according to data in open sources, it turns out that from 2007 to 2011 Spartak cost $70-80 million a year. And starting from 2012 it is much more expensive. In the 2017-2018 season it was already about 135 million.

Further more. In 2021-2022, the announced budget alone amounted to 11 billion rubles. At the same time, shareholders had to cover the deficit every year, and according to various estimates over 9 years, this amount amounted to $700-800 million.

Here you can add the cost of building the stadium – $450 million. As a result, we get at least $1.3 billion. But knowing that not all expenses are usually named openly, we can talk about two billion.

Of course, after last year’s losses, Leonid Arnoldovich was naturally unable to carry such a burden as Spartak. This reason was repeatedly confirmed by Fedun’s wife Zarema Salikhova in her messages on social networks. So the sale of Spartak, the most expensive and unrequited love of the Russian oligarch, was inevitable.

It is unknown where the former vice-president of NK Lukoil now lives. Theoretically, he can stay in London with his son, Anton Fedun. He manages two family hotels in the British capital – the Ampersand Hotel, purchased for £100 million, and the Vintry & Mercer, worth £60 million.