Soccer: Abramovich to fund 'Russian Wembley'

MOSCOW - Roman Abramovich, Russia's richest man, and the benefactor of Britain's Chelsea soccer club, is to appease growing domestic criticism by funding the construction of a 'Russian Wembley' in Moscow.

The project - already in the advanced planning stage - is aimed at silencing Russian politicians and ordinary people who often complain that the billionaire owner of the Premiership champions spends too much of his Russian-generated oil wealth in the UK.

It should also ensure that he stays on the right side of the Kremlin, from where President Vladimir Putin has sanctioned uncomfortable investigations into the affairs of fellow oligarchs in recent years.

The prospect of a modern, state-of-the-art national stadium should also help soothe Russian egos, which were badly bruised when the city failed to attract the 2012 Olympics.

The 55,000-seat venue will be built over three years in an area close to Moscow's botanical gardens. Mr Abramovich, 38, will initially put up the money for the multi-million pound project with no strings attached but will expect to gradually recoup his investment from the stadium's ticket receipts.

Its primary role will be to host Russia's national team whose mixed fortunes are followed closely by President Vladimir Putin and are a perennial subject of joy and frustration for ordinary Russians.

The businessman's advisers say they hope that in time the stadium could host some of Europe's most prestigious tournaments such as the Champions' League.

Sources close to the football-loving tycoon say that Mr Abramovich believes that the stadium will go some way to improving his often controversial image in Russia, where many people resent his wealth, estimated at $14.7bn.

When a large chunk of that money was invested in a London football club in 2003, anger was compounded by frustration.

Moscow's mayor Yuri Luzhkov called the move a slap in the face for Russian football. Sergei Stepashin, the head of Russia's Kremlin-controlledAudit Chamber, went further, criticising Abramovich for lavishing too much money on English football at the expense of Russian football and urged him to put the situation right.

Moscow's city leaders are expected to sign off on the stadium in the coming months.

Artem Vagin, a spokesman for the FootballUnion of Russia, said: "Of course we're interested in this project. If someone offered to build a stadium for you, you'd take it."

- INDEPENDENT