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Capello Not Paid in Six Months

The Russian soccer federation (RFU) says it is close to paying national team coach Fabio Capello for the first time in six months. Hit by financial problems, including a rapidly falling ruble, the RFU has been unable to meet the Italian’s reported $11 million salary, but could now receive his first payment as soon as Wednesday.

According to the AP, the veteran coach’s contract is believed to be denominated in euros but paid in rubles according to the exchange rate at the time of payment. That means a missed monthly salary payment from July now costs the RFU 40 percent more than it would have if it were paid on time, due to the ruble’s falling value.

Despite just registering just one win from his last eight competitive matches with Russia, Capello in October said he was “getting close to the limit” of his patience with the salary situation. His current contract with the RFU runs until 2018, when Russia hosts the next World Cup.

 

Read the whole story at Associated Press »

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