5 takeovers that destroyed football clubs
It's true that a football club needs to have an efficient manager to achieve particular goals and targets. It is his meticulous approach and coaching style that ensures success on the football pitch.
However, club owners play a major part in shaping their respective clubs. Their financial support and management make a huge difference in the road to achieving the desired targets for a season.
Over the years, we have seen remarkable billionaires purchase clubs and establish them into footballing forces worldwide. Men like Roman Abramovich and Sheikh Mansour are the reasons why Chelsea and Manchester City have made a mark and are now seen as a part of Europe's elite clubs.
But, an improper management and a mindset that puts financial gain over silverware has seen a bunch of clubs being wrecked. Let's have a look at some of these unlucky places where certain takeovers have proven to be a bane instead of a boon.
#5 Bulat Chagaev (Neuchatel Xamax)
Russian businessman Bulat Chagaev completed the takeover of Swiss side Neuchatel Xamax in May 2011. Little did the club know about the darkness the future had in store for it.
The Russian sacked four coaches in his first four months in charge of the club. Furthermore, he also sent his entire administrative staff packing along with the dismissal of every local sponsor of the club. Needless to say, the club suffered financially.
After sacking his entire coaching team following a 2-0 loss to Basel FC in June 2011, Chagaev burst into the dressing room to threaten his players after a 2-2 draw with bottom-placed club Lausanne Sport. On another occasion, he also terminated his goalkeeper's contract following a 3-0 loss.
Conditions didn't improve as September dawned, with Chagaev cutting ties with two of the largest supporters' groups who provided the necessary income for the club. With Neuchatel Xamax being declared bankrupt in January 2012, Chagaev was found guilty of embezzlement and tax evasion which subsequently led to his dismissal as the chairman of Xamax. Currently, he is serving a sentence in prison for his fraudulent activities.
In five years since his horrible tenure and departure, the club has shown improvement. At present, they are playing in the first tier of Swiss football.