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Sunday, Dec. 25, 2011

Russian completes Monaco takeover


MONTE CARLO — Russian billionaire Dmitry Rybolovlev completed his takeover of Monaco on Friday and promised to invest a minimum of ?100 million ($130 million) in the struggling club over the next four years.

Monaco announced on its website that Rybolovlev's company Monaco Sport Invest (MSI) had become majority shareholder with 66.67 percent.

"I think this club has enormous potential," Rybolovlev said of the seven-time French champion which is currently bottom of the second tier with one win in 18 games.

"I hope that it will be able to realize that potential fully and completely, at both national and European level."

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