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Valeri who?

The deal has taken some time to be completed but news this afternoon confirmed that a deal for around 4.5 - 5 million pounds has been agreed with Belokon becoming the first ever president of the club. So what else does he own, Toronto Pool has had a little look into the Belokon empire.


He owns two companies involving finance, The Baltic International Bank being the most well known. Established in 1993, it offers classic individual service to it's customers.


Mr. Belokon again owns two companies in the food industry, Kimmel Riga is one of the oldest breweries in Latvia, it began in 1815. His holdings also own Brivais Vilnis, a fish-processing enterprise.


Belokon Holdings owns three companies in the Latvian media. TV5, a television channel (where Blackpool FC highlights have been shown), Telegraf, the Latvian equivalent of The Telegraph! His holdings also have their own publishing house.


They have interests in two service providing companies, a travel agent, WTS, and an insurance company called Baltic Insurance House.


The Riga Golf School and Baltic Institute of Strategic Studies are both owned by Belokon Holdings, providing very much different services on the social side of Latvia.

So as you can see, the new man at BFC has a lot of assets, showing how much money he actually possesses, and how much he could actually put into the club, without dinting his bank account. Any money put in though, he would need something back.

Well, he will, I'm sure, be advertising in England, especially his brewery, with possibly wanting to have the advertising rights to the stadium or the kit. That, coupled with getting promotion to the Premiership (we hope!), would mean that he'll more than get his moneys worth.

But we have to remember Belokon is no Aabramovich who can throw money away, he's said that himself. All enterprises that Belokon invests into must comply with companies strategies. The interesting one being strategies number 8.

"potential to generate positive cash flow no later than 3 years after acquisition".

So he'll be looking to make some money back from his investment too.

Click here to join in the debate on the club forum.

The journalist

Writer: Campbell_BFC  Mail feedback, articles or suggestions

Date:Friday May 19 2006

Time: 2:57PM

Your Comments (oldest first)

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with money behind you, u might start to creap up the league next season
green giant 12
Report Abuse
19/05/2006 15:49:00

Why the sudden interest from Eastern Europe. Wish someone would thro 3-4 million at our club
Report Abuse
19/05/2006 23:19:00

Why hasn't Belakon been made Chairman ? Does Oyston still want to pull the strings ?
Report Abuse
20/05/2006 13:52:00

All good news for us. Interesting that Strategy Number 8! As for President - in Europe that is a "Superior" role to that of Chairman so VB will pull strings and KO will show him the ropes - with all that string and rope I hope they don't tie themselves in knots :o)
Report Abuse
21/05/2006 12:42:00

Its a good thing he wants it to make him money. Abramovich has money to chuck and probably sees chelsea as nothing but an expensive toy. Whereas Belekon has more of vested interest and therefore is more likely to try and improve the club as it will help him in the long run. Lets just hope its not long til we've got a 4 derby's a season. But remember we may have cash, but the gaff has to spend it wisely.
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02/06/2006 15:05:00


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