FC Moskva has become the first football...

The owners of the club, Russian metals giant NorNickel and its subsidiary, Sporting Projects Management Company, made the announcement on Friday.

"The leadership... has resolved to re-organize Moskva football club," said Leonid Isakovich, who heads the Projects Management Company.

He said that the Russian metals giant, which has the majority of its production facilities in Norilsk, Siberia"s northernmost city above the Arctic Circle, sees no reason for supporting a team from the Russian capital.

"We were unable to convince residents of Norilsk that the company"s money should go to Moscow. Without support from Moscow or other structures we consider the project a dead end," Isakovich said.

The club will retain its professional status and might take part in the first or second division competitions, Isakovich said.

The Russian Football Union and the Russian Premier League said they have not yet received documents, confirming that the football club

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