12BET France Ligue News 12/26

Russian billionaire Dmitry Rybolovlev completes purchase of Monaco

The 45-year-old has finally concluded his takeover of the fallen giants, whom he vows to plough at least €100 million [£837,000] into over the course of the next four years

Russian billionaire Dmitry Rybolovlev has completed his buy-out of Monaco, the French Ligue 2 club have confirmed.

The tycoon, who spearheaded Monaco Sports Investment, becomes the majority shareholder of the Montecarlo-based outfit, after purchasing 66.67 per cent of the club, while the remaining 33% will remain in the hands of the current ownership.

The MSI have also promised to to invest 'a minimum of at least €100 million [£837,000]' over the next four years, following Prince Albert II's approval of the takeover.

Rybolovlev is currently listed 93rd on the Forbes rich list after selling his fertiliser producer Uralkali for €5 billion [£4.5bn] in June 2010.

Monaco are currently rock-bottom of the second tier in France, three points adrift of safety after a sharp fall from grace since their appearance in the 2004 Champions League final against eventual winners Porto.

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