According to vedomosti.ru, Russian network (formerly IDGC Holding ) has become the general sponsor of CSKA Moscow for the next five years,  the company said on Tuesday.

CSKA Moscow will receive 354.7 million rubles(equivalent of 8.7 million euros) in the second half of 2013. That amount has been approved by the board of directors.

The five - year contract is thought to be more than 4 billion rubles (99 million euros) but that figure will be approved by a separate board of directors.

CSKA Moscow, one of the most popular clubs in Russia, are currently sponsored by Aeroflot. The two - year deal is worth $9 million.

Representatives of CSKA Moscow have not yet commented on the agreement with Russian network.

Photo Credit: pfc-cska.com