Billionaire Arsenal owner funds Russian team

0 Comments | AFP, February, 2008

MOSCOW (AFP) — A company controlled by the Russian billionaire who partly owns English Premier League side Arsenal will sponsor Russian team team Dynamo Moscow, Dynamo's web site announced Wednesday.

Metalloinvest, owned by Alisher Usmanov, will sponsor the Russian first division side for a year, said club officials and Usmanov, the web site reported.

The club did not reveal details of the sponsorship deal but said its 2008 budget was 42 million dollars. News portal www.lenta.ru reported the deal was worth seven million dollars.

Closely associated with the KGB in Soviet times, Dynamo Moscow is one of Russia's most famous clubs but has had little success in post-Soviet times.

Usmanov, who owns just below 25 per cent of Arsenal through his company Red...