Freedom Holding acquires FC Shakhter Karagandy

Collage by Kursov.media, photo editor: Dastan Shanay

A subsidiary of Freedom Holding Corp., controlled by Kazakh businessman Timur Turlov, has acquired the football club Shakhter Karagandy, according to the regional administration.

The deal took place at an auction today and was part of the president’s directive to develop mass sports and commercialize football.

The Karaganda regional administration has already begun working with Turlov to develop a new football ecosystem in the region. Under this plan, the businessman will allocate $23 million to construct a football academy and $12.4 million to develop and promote football among residents, including youth.

«The football academy will occupy approximately 10 hectares. Apart from the stadium, the project provides for the construction of an indoor arena for year-round training, a full-size training field, a two-story administrative and amenity complex, a medical center, a swimming pool, a sauna, a cafeteria and a dormitory for students,» authorities said in the statement.

Construction and installation work is expected to be completed in 2027. There are also plans to introduce professional development programs for coaches, including international internships and UEFA licensing.

In addition, with the support of Timur Turlov, president of the Karaganda Regional Football Association (QOFA), several major projects are being implemented:

The ALGA! school project, which will reach more than 40,000 students in schools and 3,600 students in universities by 2029; The official Freedom BFL youth league.

Earlier this year, President Kassym-Jomart Tokayev criticized those who used to lead sports federations to satisfy their ego. This is unacceptable, he said, noting that the government provides significant support to businesses, including major companies in the country.

«A new generation of businessmen and philanthropists is now joining a number of sports federations, tasked with improving the situation in sports development. We can already sense a new approach to work and a genuine interest in achieving significant victories,» the president emphasized.