Sergey Lomakin: A Football Ties to Power and Wealth
If you are wealthy in Russia, having connections to power comes with the territory. Sergey Lomakin, set to turn 53 this August, exemplifies this trend. The Moscow native is the founder of Fonbet, the largest betting platform in Russia, known for employing former football stars like Andrea Pirlo and Marco Materazzi as brand ambassadors.
Early Life and Career Shift
Interestingly, Lomakin himself was once a promising football player, earning a nomination for the prestigious title of Master of Sports. However, he made the pivotal decision to retire at the age of 18 to pursue academics. In 2003, he graduated from the Academy of National Economy, a distinguished business institution attended by influential figures like Prime Minister Mikhail Mishustin and Sergey Kirienko, a key strategist for Vladimir Putin.
From Coffee Sales to the Stock Exchange
Lomakin initiated his business career by selling imported coffee. It wasn’t long before he partnered with two college friends to launch the discount food chain Kopeyka (translated as “Copéquita”). Thanks to aggressive pricing strategies, the trio swiftly amassed significant wealth.
After selling off some shares, Lomakin expanded his enterprise by franchising Monetka (Monedita) supermarkets around the Moscow region. His most substantial success, however, came in 2007 with the founding of Fix Price, a chain of household goods and non-perishable food items. Today, Fix Price boasts an asset valuation exceeding $8 billion on the London Stock Exchange.
Legal Troubles and Political Connections
Lomakin’s rise wasn’t without challenges. He faced embezzlement accusations relating to a loan from Gazprombank to the now-defunct shoe retail chain CenterObuv. Investigations indicated that some funds may have been misappropriated to bolster Fix Price. Surprisingly, the case was dismissed in 2018 after intervention from Andrey Kostin, the founder of VTB Bank and a close associate of Putin.
Lomakin’s portfolio extends beyond betting; he also owns four football clubs across Russia, Cyprus, Latvia, and the UAE. His net worth is estimated around $1.2 billion, placing him 124th on the Forbes list in Russia. Although discrepancies exist regarding direct links to the Kremlin, various investigative reports allege that he may have utilized his offshore networks and football affiliations to assist VTB Bank in circumventing international sanctions.
The Yachts of Oligarchy
In 2024, a revealing investigation by OCCRP uncovered that two luxury yachts owned by Kostin, valued at millions, were acquired for zero cost through Lomakin’s firm registered in the British Virgin Islands. Prior reporting in 2021 indicated that a key shareholder in Fix Price, Samonico Holdings, was related to Alexander Vinokurov, the son-in-law of Foreign Minister Sergey Lavrov.
The Russian football ecosystem operates almost like an insulated enclave for oligarchs, closely monitored by individuals like Aleksandr Dyukov, the president of the Russian Football Federation. Additional investigations suggest that Lomakin has substantial ties to Denis Solovyov, Dyukov’s second-in-command, who also serves on the board of Novatek, a company closely linked to Putin’s inner circle.
A Landscape Lacking Scandal
Within this intricate network, scandals appear to be remarkably scarce. Despite facing mild sanctions, companies like Novatek continue to be primary suppliers of Russian liquefied gas, a resource that European Union nations remain increasingly reliant on.
In summary, Sergey Lomakin’s story intertwines the worlds of sports and finance, revealing a complex landscape where wealth, power, and football intersect amid Russia’s intricate political web.