Billionaire completes Monaco takeover
MONACO -- A Russian billionaire has completed his takeover of the struggling Monaco soccer team.
The club announced on its website Friday that Dmitry Rybolovlev's company, Monaco Sport Invest, now owns two-thirds of the team.
Monaco is last in the second tier of French soccer, with one win in 18 games. It won the French league title in 2000 and was Champions League runner-up in 2004.
The new owner's company promises to invest a minimum of $130 million in the club during the next four years.
Rybolovlev is among the world's 100 richest people with an estimated net worth of $9.5 billion. He made his money in fertilizer products.
Prince Albert of Monaco regularly attends the team's games and is optimistic Rybolovlev can turn the club around.
Copyright 2011 by The Associated Press
Soccer on ESPN.com
Coverage on ESPN FC
- Bennett: Great American swindle?
- Marcotti: Robin van Persie's future
- Cox: Under the radar
- Jose Mourinho exclusive interview
- State of Scottish football
- Marcotti: Preseason's double-edged sword
- MLS Power Rankings, week 20
- Bennett: EPL crisis?
- MLS second-half stories to follow
- Marcotti: Di Matteo's vision for Chelsea
- Can the NASL contain the Cosmos?
Euro 2012 in Review
MORE SPORTS HEADLINES
RECENT ACTIVITY
-
TOOLS
- Contact Us
- Corrections
- Daily Line
- RSS