Russian Billionaire On Verge of AS Monaco Takeover

Beleaguered French soccer team AS Monaco might have a new Russian owner in the form of businessman Dmitry Rybolovlev, the club president has announced.

Rybolovlev, 93rd on the Forbes list of billionaires, sold his stake in fertiliser producer Uralkali for $6.5 billion in June 2010.

Etienne Franzi, AS Monaco president said: “We have a plan designed in such a way that everything will be decided before the end of the year and it will be Mr Rybolovlev and his group. It’s good news for AS Monaco and for French football in general.”

Seven times French champions Monaco who reached the champions League Final in 2004 have been struggling of late, languishing in France’s second division, Ligue 2, after been relegated last season and are at the bottom of the table this season after one win in 16 games.