Russian tycoon Roman Abramovich may head...

A member of the pro-Kremlin United Russia told Vedomosti that the initiative to create the board came from both businessmen and the government and is aimed at improving the efficiency of spending funds allocated for sports development by the state and private companies.

Abramovich, the former governor of Russia"s Chukotka Region, has long ties with football as the owner of Britain"s Chelsea Football Club and one of the largest sponsors of Russian football. His fortune is estimated at $17 billion and will enable him to keep the club afloat for another 100 years.

A source in the Russian presidential administration said that a board of trustees will be created soon. Another source in the Football Union told the paper the decision might be approved in April.

The board will include individuals from large businesses such as Abramovich, who is likely to head the board, Gazprom CEO Alexei Miller, the Russian Railways (RZD) chief Vladimir Yakunin and co-owner of the coal

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