Isinbayeva, who will be 34 by the end of next year's Olympics, is a close friend of Russian President Vladimir Putin and has already made it clear she wants to go into sports administration once her career is finished.

She has already announced she will stand for a place on the International Olympic Committee's Athletes' Commission in the election at Rio 2016. 

A new President to replace Valentin Balakhnichev, who stood down as head of the ARAF in February following allegations made by German broadcaster ARD that he was involved in covering-up drugs tests involving Russian athletes, is due to take place on January 16 at an emergency Congress. following the country's provisional suspension by the International Association of Athletics Federations (IAAF). 

Acting President Vadim Zelichenok is not expected to be among the candidates. 

The favourite is set to be Mikhail Butov, currently the secretary general of the ARAF and a member of the IAAF Council, but he could face opposition from Svetlana Masterkova, the 1996 Olympic 800 and 1500 metres gold medallist.

Whoever is elected, however, will only serve in the position for six months before fresh elections are held after Rio 2016. 

"I am interested in all the proposals which will appear after the Olympics," Isinbayeva, who set 28 world records during her career, told Russian news agency TASS. 

"If there is a relevant proposal, I may consider it and see whether I will be able to cope with the job.

"There are many worthy people who may be nominated to this position who could cope with this work which will fall on their shoulders."

Isinbayeva has been the most outspoken critic of the IAAF's decision to ban Russia following allegations of "state-supported" doping in the World Anti-Doping Agency Independent Commission published earlier this month. 

She has warned she will take legal action against anyone who claims she has taken drugs. 

"If anybody accuses me, I will litigate them in court," Isinbayeva told TASS.

"I will undergo all the tests and make all the lawyers work for me."

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