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.