Plans for Russian Grand Prix back on track?

Chelsea Football Club owner Roman Abramovich is reportedly set to build a Formula One standard circuit in Moscow with the intention of bringing the sport to Russia for the first time in the near future.

According to The Sunday Times newspaper, Abramovich is in discussions with Moscow mayor Yuri Luzhkov to pledge ?300million to build a new circuit on waste ground in the city's northern suburbs of Molzhaninovo.

The claims come after Abramovich was criticised from within Russia for not giving enough back to his home country, having bought out and made a success out of Chelsea FC. The new circuit comes after he also provided the money for a new ?60million, state of the art national football stadium in the capital city that is currently being built.

It is not the first time talks of a Russian Grand Prix have surfaced after Bernie Ecclestone's determination to crack the market back in 2003 saw him on the verge of a deal with Luzhkov over building a circuit on the outskirts of the city on the premise of bringing Formula One there.

However, while reports suggested that talks were in an advanced stage, the deal to host a race fell through when Ecclestone and Luzhkov failed to come to a final agreement.

With motor racing rapidly gaining popularity in Russia and Ecclestone still determined to sell the Formula One brand to the largest country in the world, the possibility of a grand prix in Russia is likely to gather pace yet again.

However, the circuit's completion is still at least three years away and space on the F1 calendar is limited following interest from other countries, particularly emerging markets in the Middle East and Asia.

Abramovich though, who is believed to be worth some ?10billion, is thought to be an avid Formula One follower and has been seen at several races, appropriately at the invitation of Ecclestone himself. He was also linked with the buying out of Jordan before fellow Russian-born businessman Alex Shnaider claimed the team in 2005.