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The Alfa Nero, the subject of legal drama since 2022 when it was repo'd by the U.S. Treasury Department, has finally been refitted and sold.
The ongoing saga of the Alfa Nero superyacht is finally reaching its denouement.
After two years in limbo which involved government repossession, a failed auction, multiple lawsuits, and maritime purgatory, she appears ready to sail again.
The story goes like this: in summer 2022, it was reported that the Alfa Nero was being repossessed by the U.S. Treasury Department while docked in Antigua.
The 267-foot superyacht, built by Oceanco in 2007 for a reported $190 million, was supposedly owned by Russian billionaire Andrey Guryev. At the behest of the U.S. government, Antiguan authorities boarded the vessel and took control. The sanctions issue notwithstanding, the Alfa Nero was already irking locals on the small Caribbean island due to its crew being less than subtle during its forced docking.
Guryev, the former head of PhosAgro -- the world's fourth largest producer of fertilizer -- carries a net worth estimated to be $4.8 billion USD.
The Russian billionaire had been sanctioned by the U.S. government at the onset of the war in Ukraine due to his close ties to the Russian government. Further sanctions followed in mid-2022 from the European Union, Japan, New Zealand, and others, effectively shutting down assets tied to Guryev around the globe. The second set of sanctions also included Guryev's wife and family, including his son Andrey Guryev Jr., the current CEO of PhosAgro, and his wife and daughters.
The Alfa Nero was among the assets, but as is typical with superyacht purchasing, the vessel's ownership was obscured to prevent a lineal trail to the original purchaser. In doing so, a paper trail linking Guryev to the Alfa Nero was never satisfactorily presented.
The legal opacity meant that sanctions against Guryev, his family, and the Alfa Nero was muddy when the U.S. Treasury Department and the Antiguan government attempted to auction off the vessel in the summer of 2023.
Guryev’s daughter filed a last-minute injunction claiming the yacht was hers, while another injunction from Flying Dutchmen Overseas Limited -- who also had documentation showing their outfit as the registered owners -- made a similar claim.
With none of the issues settled, the vessel still went to auction, where it was scooped up by former Google CEO Eric Schmidt for a slick $63 million, a far cry from the original $190 million build price that was set 17 years prior.
But, unsurprisingly, the various legal bulwarks began to slow the transfer to Schmidt.
According to Maritime Executive, the U.S. government lifted the sanctions on the Alfa Nero to clear a path for a sale, but the transaction could not be completed due to the ongoing lawsuit and injunction from Guryev's daughter, Yulia Guryeva-Motlokhov.
Without a title, Schmidt could not take legal ownership, thus forcing his representatives to decline to pay the auction price of $67.6 million.
And thus the Alfa Nero was back on the market.
But, last week, it finally became clear that Schmidt's loss would be the gain of a new mystery buyer.
Maritime Executive says a sale has been completed for $40 million. The new deal was brokered by Northrop & Johnson.
Even more, the Alfa Nero is finally set to leave Antigua, having completed a refit that saw her get various upgrades from bow to stern. New perks included the removal and polishing of the propellers, the replacement of the seals on the shaft line, piping maintenance, servicing of the steering gear, hull valves, and the hydraulics of the garage door and starboard gangway, according to Yacht Charter Fleet.
That will pair nicely with the ship's other features, which include accommodations for up to 12 guests and 26 crew, and offers over 4000 square feet (370 square metres) of living space. Her coolest feature is arguably a 12' x 38' pool on the aft deck that transforms into a dance floor or a helipad using an elaborate hydraulic system. The ship carries a range of 6600 miles (10,670 km) with a cruising speed of 15 knots (28 km/m), and brings a top speed of 21 knots (39 km), making her an impressive performer for her size.
She will now head out for charter under the ownership of the latest buyer, who's identify remains unknown.
Antigua and Barbuda Port Authority CEO Darwin Telemaque, told news agencies: "This whole thing has been like a Tom Clancy novel. And I'm stuck in the middle. I just want to see it gone."
The Alfa Nero is now headed to new waters.
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