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Azerbaijani billionaires buy one of Russia’s largest sports complexes


Kievskaya Ploshchad (Kiev Square), owned by Azerbaijani billionaires God Nisanov and Zarakh Iliyev, has bought the Olympic National Sports Complex, which belonged to Alyans Company of Musa Bajayev, one of the richest people of Russia.

 

The deal was signed this month. The new owners of the Kievskaya Ploshchad intend to invest $300-400 million in the complex.

 

The complex was built on the eve of Olympic Games held in 1980 in Moscow.

 

Moscow Deputy Mayor Alexander Gorbenko said that the facilities in the complex are already old and don’t meet the relevant requirements: ‘There was need for reconstruction of the complex and an investor to make investment this complex’.

 

The reconstruction works will start in 2019 and last two years.

 

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