Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

Euro, stocks slide on Merkel's lacklustre election win

Read more

#THE 51%

Hola 'Ellas Hoy' - The 51 Percent welcomes its sister show on FRANCE 24 Spanish

Read more

IN THE PAPERS

Donald Trump Vs NFL: America's divider in chief or America's saviour?

Read more

IN THE PAPERS

National security or personal freedom? French MPs discuss anti-terrorism bill

Read more

MEDIAWATCH

Dotard: An educational insult

Read more

THE WORLD THIS WEEK

Power Play in Barcelona, May's Brexit speech

Read more

PEOPLE & PROFIT

Brexit and the city: Paris, Frankfurt, Dublin vying for new business

Read more

#TECH 24

Medtech: Repairing the human body

Read more

ENCORE!

Jennifer Lawrence on why she's unafraid to speak out

Read more

Sports

Russian tycoon buys majority stake in AS Monaco

Text by News Wires

Latest update : 2011-12-23

Billionaire businessman Dmitry Rybolovlev has become the latest Russian tycoon to take over a European football club, acquiring a majority stake in seven-time French champions AS Mondaco.

REUTERS - Billionaire Russian businessman Dmitry Rybolovlev acquired a majority stake in second-tier French club AS Monaco on Friday.

“The company Monaco Sport Invest (MSI), linked to businessman Dmitry Rybolovlev, has signed a deal to become the majority shareholder of AS Monaco,” the seven-times champions said in a statement.

The 45-year-old tycoon, ranked 93rd on the Forbes list of billionaires, has pledged to invest at least 100 million euros ($130 million) in the club over the next four years.

Rybolovlev, who sold his stake in fertiliser producer Uralkali for $6.5 billion in June 2010, acquired 66.67 percent of Monaco.

“I am a passionate football fan,” said the Russian. “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.”

Monaco reached the 2004 Champions League final but were relegated from the top flight at the end of last season and are now bottom of Ligue 2 with 13 points from 18 games.

Prince Albert II, Monaco’s head of state, welcomed the deal.

“The agreement opens a new page in the history of the football team so dear to the principality,” said the Prince.

“I hope the club can rediscover its former prestige which made it one of the jewels of Monaco’s sporting life.” 

Date created : 2011-12-23

  • Football

    Barcelona beat Real Madrid 3-1

    Read more

  • FOOTBALL

    PSG beats Sochaux 1-0 in French league

    Read more

COMMENT(S)