Former world's richest club Anzhi Makhachkala to fold 11 years after signing Samuel Eto'o

Anzhi Makhachkala are set to fold this summer after they were denied a licence to compete in the third division next season just 11 years after signing Samuel Eto'o

Former world's richest club Anzhi Makhachkala are set to fold just 11 years after signing Samuel Eto'o.

The Russian club rose to prominence in the early 2010s as they snapped up a host of talented stars thanks to the funding of billionaire owner Suleyman Kerimov. However, just over a decade on from signing the likes of Eto'o and Roberto Carlos, the club have been denied a licence to compete in the Russian third division next season, according to Russian Football News.

Anzhi have since confirmed the news in a statement, announcing to fans that the club's financial situation means they are now set to cease existing.

The statement reads: "The entire team of Anzhi made every possible effort to pass the licensing procedure and hoped for a positive outcome until the very end.

"The club management understands the reasons for the refusal and adequately assesses the financial condition of the club. Every effort was made to pay off existing debts. Unfortunately, without the support of sponsors and partners, they were not enough.

"Anzhi would like to thank everyone who contributed to the history of the club's development. Thanks to everyone who has been with their favourite team for many years and faithfully believed in the best.

"We say thank you to all the players, coaches, staff of the club and the staff of the team, who with honour and dignity represented the colours of Anzhi on the fields of Russia and Europe."

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Formed in 1991, Anzhi enjoyed an upturn in fortunes following Kerimov's takeover, with Eto'o and Roberto Carlos joined by fellow new signings Lassana Diarra, Willian and Yuri Zhirkov.

Fifth and third place finishes in the Russian Premier League saw Anzhi compete in the Europa League, where they reached the round of 16 twice and faced Liverpool, Newcastle United and Tottenham Hotspur.

However, Kerimov cut his funding in 2013, leading to an exodus of the club's high earners, with Eto'o the world's best paid player during his time at Anzhi.

Anzhi were relegated in 2014 and, despite sealing an immediate return the following season, dropped out of the top flight for good in 2019 before being relegated to the third tier a year later.