Serhiy Taruta, the billionaire who is one of the owners of the Ukrainian leading steel group, Industrial Union of Donbas, is ready to make and investments of about 85 million EUR in the building of a brand new football stadium in Lviv, city officials announced late in October.

Lviv is one of several Ukrainian cities that is going to host the Union of European Football Associations games during the championship matches that will be also hosted with Poland. The building and reconstruction of stadiums at the other cities is well under way and backed by Ukraine's billionaires. Football-crazed Ukrainian businessmen are backing stadium projects in other host cities, including Donetsk, Kharkiv and Dnipropetrovsk. In Kyiv, reconstruction efforts at the city's main stadium have terminated for some time.

But Lviv has fought to find backing for a new stadium. News of possible backing from Taruta comes weeks after an Austrian construction group, Alpine Bau, proclaimed it had backed out of the project to build a stadium in Lviv. City authorities also recently announced that two foreign companies had agreed to take part in developing the new stadium: Italy's Codest and Spain's Horwath Art Consulting.