Financial crisis threatens the future of FC Shirak

One of Armenia’s oldest and most decorated football clubs, Gyumri-based FC Shirak, is on the verge of closure or forced relegation due to severe financial difficulties, reports “Match TV.”

The club’s management has already initiated the process of transferring the Gyumri Football Academy under the control of the Football Federation of Armenia (FFA), which may indicate an attempt to mitigate the effects of the crisis.

Currently, Shirak holds sixth place in the Armenian Premier League, having earned 35 points in 29 matches. Despite this, the club may leave the top division not for sporting reasons. It is likely the team will play in the First League next season.

Historically, Shirak has been one of the country’s leading clubs: they have won the Armenian championship four times, the national cup twice, and the Supercup five times.

It is worth noting that in the 2021/22 season, Shirak voluntarily left the Premier League and spent a year in the First League before returning to the top flight.

Since 2010, the club has been owned by Arman Sahakyan, head of the Sovrano holding company. He has repeatedly criticized the FFA leadership, particularly its president Armen Melikbekyan, openly calling for his resignation.