Russian denies Arsenal link

Arsenal hope to move to Ashburton Grove

Russian billionaire industrialist Vladimir Potanin has said he has no interest in investing a substantial amount of money in Arsenal.

The Independent on Sunday newspaper reported that Potanin, a metals magnate, was considering investing up to £120m in Arsenal's new stadium project at Ashburton Grove in return for a share of the London club.

"Vladimir Potanin has no plans to acquire any sports clubs whatsoever," said a spokeswoman for his mining empire's parent company Interros.

Arsenal hope to start building the ground before the end of the year but still need to raise considerable funds.

The cost of building the new ground has restricted funds available for manager Arsene Wenger to spend in the transfer market.

Potanin, a former Russian deputy prime minister, is one of a small group who were awarded huge industrial empires in the privatisation of Russian industry in the 1990s.

Roman Abramovich, a compatriot of Potanin, bought Chelsea earlier in the year and has since invested more than £100m on new players at the London club.

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