Shakhtar CEO Serhiy Palkin: ‘Ukrainian football is surviving, but it’s in crisis mode because of the ongoing war’

Over the past quarter-century, Shakhtar Donetsk has transformed from mere contenders to all-conquering champions in Ukrainian soccer. Founded in 1936, Shakhtar won its first trophy in 11 years (and its first since the Soviet Union’s downfall) after winning the 1994/95 Ukrainian Cup, before claiming two more Ukrainian Cups in 1996/97 and 2000/01. And in 2001/02, Shakhtar won the Ukrainian Cup as well as its first-ever Ukrainian Premier League title, putting an end to Dynamo Kyiv’s run of nine straight league titles.

The rest, as they say, is history. Shakhtar has won a record 15 Ukrainian Cups and nine Ukrainian Super Cups, while also winning 15 of the last 24 league titles (two short of Dynamo Kyiv). On the continental stage, the club won the 2009 UEFA Europa League, reached the UEFA Champions League knockout rounds in 2011, 2013, 2015, and 2018, and made it to the Europa League semifinals in 2016 and 2020. There are quite a few reasons behind Shakhtar’s meteoric rise, but a primary factor has been the arrival of Serhiy Anatoliiovych Palkin.

Born in Kryvyi Rih on October 22, 1974, Palkin graduated from the National Academy of Management in Kyiv and worked as a Senior Accountant for Coopers & Lybrand JV between 1997 and 2001. He then assumed the position of Deputy CEO for Budgeting & Economics at Kryvyi Rih Cement & Mining Plant JSC in 2001, eventually ascending to Economics & Finance Director. Palkin made the transition to sports when he joined Shakhtar as Chief Financial Officer on June 3, 2003; a few months later, he was promoted to CEO, a role he has occupied ever since.

“No two weeks are ever the same. Football is fast-moving—it’s not just a sport, it’s a social and economic phenomenon,” stated Palkin in an exclusive World Soccer Talk interview. “Of course, there are strategic things I monitor closely, like our long-term direction and pace of development. But there are also daily operational matters—from results on the pitch to unexpected issues that come up all the time. It’s a job that never stands still.”

Thanks to the guidance of Palkin, the unprecedented affluence of owner Rinat Akhmetov, and the proliferation of Brazilian stars like Willian, Fernandinho, and Fred, Shakhtar has managed to consolidate a domestic and international dynasty. However, it hasn’t been without its fair share of difficulties.

In 2009, Shakhtar moved on from its 73-year-old Central Stadium Shakhtar and transitioned to the $400 million Donbas Arena, which boasted a capacity of 52,187 spectators and hosted various matches in Euro 2012. Less than five years later, Shakhtar was forced to abandon its state-of-the-art stadium after Russian-backed paramilitaries seized cities in Ukraine’s eastern Donbas region and proclaimed the Donetsk People’s Republic (DPR) and the Luhansk People’s Republic (LPR) as independent states. While its stadium is obliterated by artillery shelling, Shakhtar has been forced to move from Donetsk to Lviv to Kharkiv. It’s been more of the same on the continental front; ever since Russia’s full-scale invasion in 2022, Shakhtar has been forced to play its European matches outside of Ukraine, going from Warsaw in 2022/23 to Hamburg in 2023/24 to Gelsenkirchen in 2024/25. This season, the club has had two host cities, commencing in Ljubljana before moving to Krakow.

“From the first day of the full-scale invasion, life in Ukraine changed completely. Millions lost their homes, jobs, plans—and many lost their loved ones defending our country. Has Russia paid the price? Not at all. The world must be stronger and more united in standing against their ideology of destruction and aggression. International law must mean something—otherwise, humanity itself is at risk.”

The seemingly endless war hasn’t just meant more violence and bloodshed in Ukraine, but it’s also caused Ukraine’s domestic league to decline. Shortly after the invasion, FIFA announced that foreign players of Ukrainian and Russian clubs could unilaterally suspend their contracts and leave, allowing the likes of Manor Solomon and Tetê to depart Shakhtar for bargain fees, if any fees at all. Shakhtar sought £43 million in damages from FIFA but ultimately lost its case at the Court of Arbitration for Sport. As a result of this player exodus, the majority of Ukrainian Premier League clubs find themselves in a financially precarious position and are doing everything they can to stay afloat.

“In 2021, Ukraine ranked 12th in UEFA’s coefficient table—now we’re 28th. For the first time in modern history, we don’t have a team in the Champions League or Europa League group stages. Some clubs have even ceased operations. Many Ukrainian Premier League teams are newly promoted from lower divisions. Ukrainian football is surviving, but it’s in crisis mode because of the ongoing war.”

Despite being a refugee in its own country, and despite having to play its ‘home’ UEFA matches in seven different cities across three nations since the start of 2014, Shakhtar has been able to hold its own as one of the top teams in the nation thanks to an increased reliance on homegrown players like Mykhailo Mudryk, Anatoliy Trubin, and Georgiy Sudakov. This year, Shakhtar expanded its world-renowned youth production to the United States after launching an academy in Horsham, PA, on June 18, open to children from ages 3 to 15.

Shakhtar isn’t just looking to find the next great Pennsylvania soccer player after Christian Pulisic, Jason Shokalook, and Cavan Sullivan; the club is also making a name for itself in the Garden State after opening an academy in Clifton, NJ, on September 7. Shakhtar connected with Ukrainian communities in the States who wanted to bring their passion for the Miners to the USA to essentially franchise the brand and youth development overseas. Both academies offer a free first session and various training methods for kids between the ages of 3 and 14, with franchisees buying in for a starting fee of $20,000, as well as paying in installments depending on the academy’s success.

“Our franchise model is very flexible and affordable—around $20,000 to start. There’s also the option to pay in installments, depending on the school’s success. That makes it low-risk and appealing for partners who want to join the Shakhtar network. Of course, the goal is for every franchise to become profitable over time. Right now, the focus is on brand development and building local expertise. We’re not yet scouting for the first team, but once we establish ourselves and understand the market better, talent identification will naturally become part of the process. Every country has its own specifics. Setting up the school didn’t take long—about two months. Like in other countries, our U.S. academies are operated by Ukrainians who share our vision.”

After missing out on a fourth consecutive title in 2024/25 after finishing eight points behind Dynamo Kyiv and five behind runners-up Oleksandria, Shakhtar has bounced back in impressive fashion in the first half of the 2025/26 season with 42 goals thus far, seven more than any other team in Ukraine. They sit second in the table, level on 35 points with league leaders LNZ Cherkasy and five above third-placed Polissya, while they also find themselves in second place in the UEFA Conference League with 12 points from five matches thus far.