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July 3, 2003 by AK

Chelsea Set for Takeover: a Russian billionaire buys a leading English soccer club.

Roman Abramovich, an influential Russian magnate controlling, among others, the oil company Sibneft (and about to become a major shareholder in a combined Yukos/Sibneft group), pays about $50 million for 50%+ of Chelsea and is offering to buy up the rest at the same price.

To put it bluntly, watch how the money stolen in Russia gets invested in English soccer!


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