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  Thursday, June 4, 2020
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Russian energy giant Gazprom will cut the budget of Zenit
Russian energy giant Gazprom will cut the budget of Zenit St. Petersburg soccer club by 10% this year due to the financial crisis, a spokesman for the company said on Friday.

"This year the budget will be reduced from the planned level, but we believe it is sufficient for the club and the team to produce good results," Sergei Kupriyanov said.

Gazprom bought a controlling stake in Zenit in 2005, and the club won the Russian Premier League for the first time two years later. In 2008, Zenit won the UEFA Cup.

Despite the reduced budget, Zenit will remain the richest Russian soccer club. Gazprom CEO Alexei Miller earlier said that financing could at any stage be increased if new players are needed.

Kupriyanov said the energy giant will also continue its sponsorship of Germany's Schalke 04, in line with a contract concluded last year.

"Despite the crisis, we will continue working on a number of long-term contracts, including the sponsorship contract with the German club Schalke 04," he said.


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