Maradona makes a mint for Russian businessman

Viktor Vekselberg is making money out of soccer, succeeding where fellow Russian billionaire Roman Abramovich so far hasn't.

Vekselberg's Renova Group bought the rights to 24 Argentina national team exhibition matches for $18 million in 2006, and may double his money after interest soared when Diego Maradona was appointed as coach, said Guillermo Tofoni, head of Renova's match organizer World Eleven SA. Abramovich's Chelsea hasn't posted a profit since he bought the English Premier League team in 2003.

"Everyone wants to see Diego," said Tofoni. "It's like organizing a U2 or Beatles concert."

Maradona was appointed national team coach on Oct 29. As a player, his "Hand of God" goal - when he punched the ball into the net and later called it divine intervention - helped the national team win the 1986 World Cup in Mexico. His personal life, which included drug addiction and health problems, has kept him in headlines. The 48-year-old is more cited on the Internet than golfer Tiger Woods, according to lalistawip.com, a Spanish website tracker. That's good news for Zurich-based Renova, whose main interests include oil, gas and gold mining.

Renova boosted Argentina's appearance fees to about $1 million - five times higher than in 2003 - and may snare a $6 million sponsorship deal, Tofoni said. It's in talks with Sony Music Entertainment Inc about having its artists, which include Alicia Keys, performing before games, he said. Sony Music's Argentina unit didn't reply to requests for comment.

'Extra money'

The investment "is a nice opportunity to earn a little extra money on the side," Renova spokesman Daniel Grotzky said.

Chelsea hasn't posted a profit since Abramovich's arrival. It had a loss of 74.8 million pounds in the year ended June 30, 2007, its latest published accounts. Sales rose to a record 190.5 million pounds. Chelsea spokesman Steve Atkins and Abramovich's spokesman John Mann declined to comment.

Abramovich has spent some $840 million on the team in six years, and hired Russian national team coach Guus Hiddink for the rest of the season after firing Luiz Felipe Scolari. To be sure, Abramovich's investment helped Chelsea win its first league titles in half a century, in 2005 and 2006.

Voted the best player of the 20th century in a worldwide poll of fans, Maradona has overcome cocaine addiction and health problems that dogged him following his 1997 retirement. He counts as friends Cuba's former leader Fidel Castro and Venezuelan President Hugo Chavez. He helped Chavez campaign for reelection in Caracas last month.

Boosting prices

Maradona's Argentina team drew a crowd of 40,000 for his first match as coach, a 1-0 win against Scotland in Glasgow on Nov 19, even after prices were raised to 35 pounds a seat, a 75 percent increase for an exhibition. The match was televised in 150 countries, according to Wil, Switzerland-based Kentaro AG, which sells television rights for Renova.

Argentina has also lined up exhibitions against Hungary and Spain and may face Germany on Nov 18, in its remaining available slot for a game abroad this year, Tofoni said. Argentina has received triple the number of invites from potential hosts.

"It's crazy," Tofoni said. "We could play matches in the morning, afternoon and evening."

Vekselberg hasn't had it all easy. His investment has been criticized in Argentina as outside interference in the national team, said Diego Bonadeo, a soccer columnist for Argentina's Pagina/12 newspaper. Tofoni says the coach has the final say on picking Argentina's opponents.

'Disgraceful'

"It's disgraceful," Bonadeo said. "The contract should never have been signed."

The Argentine soccer federation is benefiting. It increased fees by 30 percent for official suppliers, Adrian Anaya, a director of the federation's commercial agent, Santa Monica Sports SL, said. Team uniform sales may rise before next year's World Cup in South Africa.

"We expect people to buy the coach's tracksuit that he uses," Anaya said.

Renova, which also bought the rights to Brazil's exhibition games in 2007, doesn't plan to make further investment in soccer, spokesman Grotzky said.

Vekselberg's interest in soccer "isn't in anyway comparable to Roman Abramovich's", he said. "It's not a huge personal playground."

Agencies

(China Daily 02/16/2009 page11)