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Russian billionaire Dmitry Rybolovlev completes purchase of Monaco

Russian billionaire Dmitry Rybolovlev completes purchase of Monaco

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The 45-year-old has finally concluded his takeover of the fallen giants, whom he vows to plough at least €100 million 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' 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 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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