Krasava chairman sees Cyprus as a base for football and business growth
Building a football club from scratch is a long game, but Krasava ENY Ypsonas chairman Yevgeny Savin is approaching it with the mindset of an entrepreneur.
Indeed, the club’s aspirations extend beyond the pitch. An ambitious five-year plan links player development and transfers to investment in infrastructure, a growing youth academy and the club’s long-term financial sustainability.
Founded in Russia in 2021 before relocating to Cyprus a year later, the club is now building its sporting and commercial operations in Ypsonas, with Savin aiming to attract international investors while developing stronger ties with the local community.
“We have a five-year plan, a very clear plan of investment rounds, and right now we are raising €1.5 million,” Savin said in an exclusive interview with the Cyprus Mail.
The club plans to launch its first fundraising round in December, targeting €1.5 million, followed by a second round of the same size in spring 2027, which will be dedicated to developing its sporting facilities, training base and academy.
Savin said the club was taking a different approach from the funding models he had encountered in Russian football, where investment often came from state or state-linked institutions.
“Our principles are absolutely different. We are focused on private investment, and we are completely open about our funding,” he said.
He added that the club’s business model would involve several investors rather than a single decision-maker, making a clear development plan essential.
The first priority is infrastructure, followed by improving the academy and developing the squad before pursuing a place in the league’s top six.
“Without a training base and an academy, clubs die. It is finished,” Savin said.
Only after these foundations are established does the club intend to make a serious push towards the top six, with participation in European competitions a longer-term sporting objective.
Savin said the club was also examining models used by teams such as Wrexham and Como, which have attracted international attention through their development and commercial strategies.
Player development and transfers are central to Krasava’s financial model.
During its first season in Cyprus’ top division, the club sold players to leading domestic sides and saw head coach Javi Rozada recruited by AEK Larnaca during the season.
Savin said the club generated approximately €500,000 through player sales and a coaching move during its first year in the top flight, while raising €3 million in total funding during the previous year and coming close to breaking even.
Its revenues and funding model combine player transfers, naming rights, sponsorship and broadcasting.
The club now has five players from Cyprus’ under-21 national team, whom Savin said had joined because they saw Krasava as a route towards bigger clubs.
He said the club wanted to double its transfer activity, building a reputation as a place where young players could improve their value before moving to more established teams.
The appointment of Ukrainian former international Dmytro Chygrynskyi as head coach also forms part of this approach.
Savin described Chygrynskyi as a young coach with a substantial playing career and further room to develop, adding that the club believed his progression could generate significant value within the Cypriot market.
International investors and sponsors are another major target.
Savin said Krasava was not limiting its commercial ambitions to Cyprus, arguing that its international audience could make the club attractive to businesses based abroad that wanted to reach supporters across multiple markets.
He said the club had already attracted coverage from major international media outlets, including French sports newspaper L’Equipe, and expected further international media visits during the autumn.
Savin estimates that around 300 million people across the Russian-speaking world know the club’s story, an audience he believes can be expanded through international media and documentary projects following the team across the season.
Greater international exposure, he said, could raise the club’s commercial value while bringing additional attention to Cyprus as a football destination.
The club is also developing a global supporters’ platform and loyalty card programme, intended to give members access to discounts from partner businesses worldwide.
Savin said Krasava’s relatively short history and lack of an established, restrictive fan base offered commercial opportunities, including naming rights and partnerships that might be harder to secure at older clubs with entrenched traditions.
He added that the club was currently raising €1.5 million to finance its next stage of development and believed its distinctive identity and realistic long-term plans would appeal to investors.
Krasava’s relocation followed Russia’s invasion of Ukraine in 2022, after which Savin spoke publicly against the war and left the country.
He said the club’s sponsors and investors subsequently left Russia, forcing him to choose between remaining there and leaving to continue the project abroad.
“We are the only football club that has left the country,” he said, describing the decision as extremely difficult from a business perspective but necessary to preserve the club’s future.
Savin said he could not return to Russia, adding that maintaining his freedom was also important to potential business partners.
Cyprus, he explained, offers the right conditions for the club’s next stage of growth.
He cited the island’s international business community, investors with roots in former Soviet countries, growing profile in European football and comparatively lower costs of competing for European qualification than in Greece or Turkey.
He also pointed to the opportunity to develop a business without the financial pressures and debt affecting some established football clubs.
“We have no debts, we have no problems, and we are not toxic,” he said.
Savin added that he had seen the development of Cypriot football during his four years on the island, while also recognising the need for more investment in infrastructure and improved financial models across the sport.
The club, he said, was able to build steadily because it was not under the same pressure to deliver immediate results, a burden traditionally associated with older, more historically successful clubs.
He also spoke positively about living in Cyprus, saying his family was happy on the island and that he regarded it as home.
“My family is super happy to live here. This is my home. Cyprus is my home,” he said.
Savin said the club wanted to respect the country’s existing football infrastructure and traditions while contributing to its development, rather than operating as an isolated foreign project.
Its community plans already include more than 200 children training at its existing ground, with further growth expected through investment in facilities and partnerships with other academies.
The club has also held successful partnership talks with the Island Private School of Limassol, which has 1,000 students, representing a significant potential audience for both its academy and matchday attendance.
The club employs coaches and other staff locally, creating what Savin described as dozens of jobs connected to its training activities.
He said Krasava was also committed to bringing together Russian-speaking, Cypriot and international players and families, with the club’s name retaining ENY as a reference to Ypsonas.
“We are promoting Cyprus as a football country, as a country attractive for investment,” he said.
Savin believes that a combination of disciplined spending, player development, commercial partnerships and local investment can help the club establish itself while benefiting the wider football economy.
“I am absolutely sure that it is a good time for investment, both for our club and for Cyprus,” he said.
The immediate task, he added, is to secure funding for the training base and academy, build the squad and progress towards the top six, before turning to the longer-term ambition of competing in Europe.