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Tirayr Muradyan

Company Buys Another Yerevan Sports Complex

Eco Petrol LLC, which purchased Yerevan’s Spartak football stadium last month, has bought another Soviet-era sports complex in the Armenian capital.

The company’s newest acquisition, located near Yerevan’s Victory (Haghtanak) Bridge, once served as a training center for wrestlers and boxers.

Eco Petrol purchased the Spartak football stadium, the second oldest football venue in Armenia, for five billion AMD (US$ 12.3M).

Both sports complexes belonged to the Armenia Sports Union NGO and were sold without any tender bids. Prior to both sales, Standard Petrol owner Arsen Hovhannisyan made his way onto the NGO’s board and facilitated the sales to Eco Petrol, a company founded by his son Arsen.

Photo: Arsen Hovhannisyan

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