Russian billionaire completes Monaco takeover

A Russian billionaire has completed his takeover of the
struggling Monaco soccer team.

The club announced on its website Friday that Dmitry
Rybolovlev’s company Monaco Sport Invest now owns two-thirds of the
team.

Monaco is last in the second tier of French soccer with one win
in 18 games. It won the French league title in 2000 and was
Champions League runner-up in 2004.

The new owner’s company promises to invest a minimum of $130
million in the club over the next four years.

Rybolovlev is among the world’s 100 richest people with an
estimated net worth of $9.5 billion. He made his money in
fertilizer products.

Prince Albert of Monaco regularly attends the team’s games and
is optimistic Rybolovlev can turn the club around.