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Shares Frozen in Dynamo Kiev Football Club

A court in Kiev has ordered shares of the Dynamo Kiev football club frozen in an unresolved ownership dispute involving a Russian-owned company and the new Ukraine government.

The court ordered nearly 99 percent of the stock in Dynamo Kiev frozen following a lawsuit by the Pacific International Sports Clubs Limited, a company owned by Russian businessman Igor Grigorishin.

Pacific International sought seizure of the shares as part of a planned appeal for its right to purchase Dynamo stock. The company claimed that its right of priority purchase was violated during the sale of Dynamo stock between 2000 and 2004.

The court's decision comes one day after a Ukrainian government official warned that Dynamo could be scrutinized as part of the new government's review of past privatization of industries.

Dynamo's president Ihor Surkis said there are no grounds for the inquiry. The investigation is politically charged because Surkis's brother, Hryhoriy, is the president of the Ukraine Football Federation.

Dynamo has won the Ukraine League championship 11 times and was a 13-time champion under the Soviet system. Dynamo also won the European Cup Winners' Cup and reached the round of 32 in this season's UEFA Cup.

Some information for this story provided by AP and AFP.