Ukrainian businessman and President of FC Arsenal Kyiv Vadym Rabynovych has said that the process on the club's transfer to Party of Regions MP Oleksandr Onyschenko has not yet been completed.

"I'm cooperating with Mr. Onyschenko. He has not yet bought anything from me. I'm the president of the club, the documents are mine, the director is mine, and all is mine. But we have a firm agreement that he wants to take the club. We are giving him such an opportunity to work and even start forming a new team," he said at a press conference in Kyiv on Wednesday.

Rabynovych said that he was demanding no money for Arsenal from Onyschenko.

"I'm passing the club to Onyschenko with the debt standing as of January 1, 2013 at around $5 million, the contracts of players for more than $8 million, and a place in the Premier League. I'm passing no other debts in the club. I'm assuming the club's large bank loan in hryvnias. He will also get the debt on wages," he said.

"However, I think that potentially, he's already the club's president. I have no contradictions with him. Instead, I'm bringing him into this 'terrible' football cause, because he doesn't realize yet how addictive it is and how hard it is to give up later," Rabynovych said.

"I gave up football. Football is currently a very costly, serious mechanism, in which those who are related to power have to be involved, because it's necessary to earn money for football. I think that those who have no power currently cannot support clubs, with few exceptions. So I think that today I wouldn't be able to build a serious football club in Kyiv. I don't know whether Onyschenko will, but he has more opportunities. He's at least interested in football, and we talk to him a lot," he added.

On February 15 it was announced that Arsenal Kyiv would be passed to MP Onyschenko with wage arrears of $5.5 million as of January 1, 2013, plus UAH 330 million more in debt. The MP's press service said that it was still necessary to agree only on some issues with documents.