AS Monaco has stepped up its campaign against the French Football League’s (LFP) decision to force the club to set up financial residence in France by lodging an appeal to the French Football Federation (FFF).
Monaco last month slammed the LFP’s ruling, stating the move “jeopardises their survival”. The club’s base in the Mediterranean principality allows it to benefit from the favourable tax laws in place there, rather than the far more stringent French laws which include proposals to tax annual earnings over Eur1 million at 75%. An agreement made in 1869 means Monaco can sign a foreign player without him having to pay income tax. Meanwhile, French players subject to French income tax regulations pay approximately 20% less in national insurance contributions on their salaries than their contemporaries playing for other clubs. However, the LFP has now ruled that all its clubs should be subject to the same financial regulations, giving Monaco until June 1, 2014 to fall in line. The club risks exclusion from LFP competitions if it fails to do so.
Speaking to French sports newspaper L’Equipe, Monaco vice-president Jean-Louis Campora said: “We have sent all the necessary documents (for the appeal). We are determined to assert our rights. It is hard for the League to say that the decision is not aimed at us. In two hours, some have tried to throw away Monaco’s 90 years of participation in French football.”
The LFP’s ruling comes with Monaco staging a revival under the ownership of Russian billionaire Dmitry Rybolovlev, who through his Monaco Sport Invest (MSI) company, acquired a 66.67% stake in the fallen giant in December 2011. Monaco currently sits top of Ligue 2, four points clear of Nantes, and seems on course to return to Ligue 1 next season.