Oleg Tinkov pays £20 million bail in fight to avoid extradition to USA for tax case

OIeg Tinkov
Oleg Tinkov, ex-team owner (Image credit: Getty Images)

Oleg Tinkov, the former owner of Tinkoff-Saxo team, that included Peter Sagan and Alberto Contador, has paid bail of £20 million to avoid going to jail on remand after a provisional arrest warrant was issued by American prosecutors.

According to reports in Britain and leading financial media, the 52-year-old Russian billionaire first appeared in Westminster magistrates last week, accused by the U.S. Internal Revenue Service (IRS) of filing a false tax return in 2013 when he allegedly under-reported his income as a US citizen. The hearing is expected to last until April.

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Stephen Farrand
Head of News

Stephen is the most experienced member of the Cyclingnews team, having reported on professional cycling since 1994. He has been Head of News at Cyclingnews since 2022, before which he held the position of European editor since 2012 and previously worked for Reuters, Shift Active Media, and CyclingWeekly, among other publications.