Chelsea FC's Russian billionaire Roman Abramovich has confirmed that he will invest at least another $40 million into the Russian national football team in the hope of reviving it’s international fortunes.

Abramovich's National Soccer Academy foundation has been earmarked an amount in the region of $30-40 million (£15.2-20.3 million) for the construction of a new training base for the Russia national team by 2008, with financing towards building a new international standard stadium, Abramovich’s spokesman told Reuters on Wednesday.

The Billionaire Chelsea owner Abramovich sees this as the latest part of an ambitious plan to lift Russian soccer up from the international football teams anonymity since the collapse of the Soviet Union.

Abramovich already partly finances Guus Hiddink, the Russian national coach’s salary package after agreeing to bring him to Russia in the summer when they were looking for a successor to Yuri Semin, who quit his job as Russia head coach following their failure to qualify for the World Cup finals in Germany this summer.

The Russian Football Union had appeared to be set to offer former South Korea manager Dick Advocaat the coaching role, until the Russian Chelsea FC owner reportedly contacted the RFU (The Russian Football Union), and recommended Hiddink for the role, while also saying that he would fund all of his wages.

Abramovich has also put millions of dollars into current UEFA Cup holders CSKA Moscow, who last year became the first Russian club to lift a European trophy when they won the UEFA Cup at the Philips Stadium in Eindhoven, Holland.

His spokesman confirmed that Abramovich's foundation, which sponsors sports projects across Russia, will fund the building of a new national stadium in Moscow, at a cost of approx. £152million ($300 million).

"The Academy is ready to go forward to make sure it [the stadium] is built. The foundation is the main driver behind the stadium project," he added.

Abramovich bought Chelsea in 2003, and the club have secured two Premiership titles in the process. He is hoping that he can bring the same success to the Russian national team.

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