By Eurohoops team/ info@eurohoops.net
Pallacanestro Cantu major shareholder Dmitry Gerasimenko announced that he’s giving away the 65% of the club shares he owns due to his Red October Volgograd company getting seized.
Per Cantu:
“Dear friends of Pallacanestro Cantu = company managers, technical staff, players, supporters and all fans – I am obliged to inform you that my company, Red October Volgograd, has been subjected to seizure, which I would describe as expropriation by some government officials of the Volgograd Region (Russia) and its tax office, through the form of bankruptcy with the hiring of insolvency administrator, without there being any inclinations or debts towards them. This makes it impossible from my part to keep the Pallacanestro Cantu company. I trust that the problems are resolved quickly. I rolled up my sleeves to find a solution fitting to the expectations of the team and me personally. I appeal to the will of all the people who love Cantu to continue their activities for the team and I am putting my shareholders on the market for free.”
Cantu is currently 9th in the Italian league with a 3-3 record.