Russian oligarch under no Western sanctions may sell his Monaco football club

Russian oligarch Dmitry Rybolovlev, who owns 66.7% of FC Monaco, may sell the club, as American investors have expressed relevant interest. Source: French newspaper Les Echos Details: The newspaper reported that Rybolovlev did not plan to sell the club, but everything changed last year as he received at least two offers from American investors who plan to invest in European football and see Monaco as an ideal option for starting to venture into sports.

The offers were reportedly "quite good", so Rybolovlev changed his mind about selling the club.

According to Les Echos, the oligarch is now ready to consider a sale. The Italian media outlet Foot Mercato also mentioned the possibility of a change in FC Monaco's ownership. The media outlet noted that the Russian oligarch had engaged Raine Group as an exclusive financial advisor to evaluate and support the deal.

With the participation of Raine Group, Russian oligarch Roman Abramovich sold his London-based Chelsea football club to American businessman Todd Boehly in 2022. Besides, Raine Group advised the Glazer family in December 2023 when it sold a 25% stake in Manchester United to Jim Ratcliffe. A representative of Rybolovlev's family office told Kremlin-aligned Russian news agency RBC that "the owners of Monaco have decided to commence the process of exploring strategic opportunities for their stake in the club".

"The decision was adopted after the shareholder received inquiries from potentially interested parties. Raine Group is currently acting as financial advisor on the matter," the statement said. However, according to Les Echos, this information does not mean that the club will definitely be sold.

The newspaper reported that the deal will only take place if a potential buyer receives the support of Prince Albert II of Monaco since Rybolovlev's Monaco Sport Invest company owns 66.7% of the football club's shares, with the remaining stake held by the Prince of Monaco. The decision to sell the club will be made by the end of the season. Should Monaco change hands, the new shareholders will be able to start working on the transfer market in the summer window.

According to Forbes Russia, Rybolovlev's net worth is estimated at US£6.4 billion. He bought the club for EUR1 at a time when Monaco was struggling financially and had been relegated from the elite league. Monaco Sport Invest became the owner of Monaco in December 2011.

Under the agreement, the company was to inject at least EUR100 million into the club over the next four years. In the 12 years since the change of ownership, Monaco has won the French championship once and played in the Cup finals three times. The club's best achievement in European competitions was reaching the semi-finals of the Champions League in 2017.

Ukraine's National Agency on Corruption Prevention reported that Rybolovlev is one of the few Russian oligarchs not yet under Western sanctions, having left the country more than a decade ago. He is subject to sanctions only in Ukraine.

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