Oligarch adds wealth to Russian World Cup bid

07 July 2010 | Posted in Hosting, Soccer | By Tom Love

Russia's World Cup bid received a major financial boost after securing the support of financial group IDF Kapital.

Backed by chairman Leonid Arnoldovich Fedun, owner of Spartak Moscow, Fedun joins fellow oligarchs Roman Abramovich and Alisher Usamov.

"Football is the most popular sport in Russia. If we win the right to host the World cup, the largest celebration of world football will take place in Russia, a huge honour for our country," said Fedun, whom Forbes magazine listed at the 122nd richest person in the world.

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Russia's chief executive officer, Alexey Sorokin said, "IFD Kapital is an investor active in a number of business areas and in particularly in companies that are expected to be on the market's high tomorrow. Their expertise will further help us to make a case for holding the FIFA World Cup in Russia, an opportunity which would allow football to tap into a huge market."