By David Gold
December 23 – AS Monaco were given a timely boost when Russian billionaire Dmitry Rybolovlev acquired a controlling stake in the struggling Principality club.
A statement on the club’s website said that Rybolovlev’s Monaco Sports Investments (MSI) company had become the majority shareholder: “MSI has signed an agreement from which [Mr Rybolovlev] becomes the majority shareholder in AS Monaco.”
It continued: “According to this agreement, MSI has taken control of 66.67 per cent of the shares.
“The other 33 per cent remain under the control of the Monaco Football Club Sport Association which represents the interests of the principality of Monaco.”
Monaco also say that at least €100 million (£84 million/$130 million) will be invested over the next four years as they look to climb out of their current malaise.
The Ligue 2 side are currently bottom of the table, having been relegated from Ligue 1 last season for the first time in over 30 years, and risk joining amateur and semi-professional teams in the third tier of French football next season.
The team have not won in the league since the middle of September and are locked in a four-way battle against relegation with AC Arles Avignon, Le Mans – also both relegated from Ligue 1 last season – and Amiens.
Despite their current predicament, Monaco have an illustrious history having won the French title seven times and they reached the final of the UEFA Champions League as recently as 2004, though chronic instability has marred the period since; there have been a number of different Presidents and coaches at the club.
Rybolovlev is 93rd on Forbes’ list of billionaires with a net worth estimated at €7.3 billion (£6.1 billion/$9.5 billion) as of last March.
Rybolovlev insists that he is a huge football fan and said: “Having lived long enough in Monaco I realise the club is not just one of the principality’s sports teams but also represents one of the main symbols of the principality, its pride and traditions.
“I think this club has enormous potential.
“I hope it can now realise this potential both domestically and in Europe.”
“The agreement opens a new page in the history of the football team so dear to the principality,” said Prince Albert II, the head of state of Monaco.
“I hope the club can rediscover its former prestige which made it one of the jewels of Monaco’s sporting life.”
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