Alisher Usmanov has forked out millions to return the Nobel medal to James Watson. Photo: Bloomberg

The richest man in Russia, Alisher Usmanov - owner of the London soccer club Arsenal - was the person who this month paid $AU4.9 million at auction for James Watson's Nobel prize medal for the discovery of DNA.

The Russian mogul said he plans to return the 23-karat-gold prize to Watson.

"In my opinion, a situation in which an outstanding scientist has to sell a medal recognising his achievements is unacceptable," Usmanov said in a statement.

James D. Watson, co-discoverer of the DNA helix and father of the Human Genome Project. Photo: Reuters

"James Watson is one of the greatest biologists in the history of mankind and his award for the discovery of DNA structure must belong to him."

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Watson, 86, who along with two others won the Nobel in 1962 for the discovery of DNA's double-helix shape, had said he was selling the medal - even though no living recipient has ever done so - because he'd been shunned from most academic circles and lost income as a result.

He blames his ostracism on a 2007 interview in which he expressed the belief that some races are less intelligent than others.

But critics say that he has a long list of sexist and racist remarks under his belt and that his contributions to science shouldn't excuse him. He has said he plans to give some of the money from the sale to scientific research.

Usmanov, 61, said he was motivated to buy the Nobel by his father's death from cancer, a disease that he believes Watson's discoveries have made invaluable contributions to curing.

When you include the commission charged by the auction house, Usmanov's gesture cost him nearly $AU5.9 million. He has an estimated net worth of nearly $AU23 billion.

"It is important for me that the money that I spent on this medal will go to supporting scientific research, and the medal will stay with the person who deserved it," he said in a statement.

In addition to the medal, Watson auctioned off his Nobel acceptance speech for $AU444,000 and the manuscript of a lecture he gave the day after receiving the award for $AU298,000.

Last year, a Chinese biotech mogul paid $AU2.76 million for the medal awarded to Watson's late collaborator Francis Crick.

Washington Post