No progress in AS Monaco sale process
L’Équipe are reporting that there is no progress in the reported AS Monaco sale process. As reported by Les Echos and confirmed by Get French Football News back in January, owner Dmitry Rybolovelv has mandated The Raine Group to serve as a financial advisor.
A statement from a representative of the Rybolovlev family office read as follows:
The majority shareholder of AS Monaco (the “Club”) has decided to commence a process to explore strategic alternatives for its stake in the Club after receiving unsolicited inbound interest. The majority shareholder has retained The Raine Group (“Raine”) to serve as its exclusive financial advisor on this matter. Raine has significant experience working with the world’s biggest football clubs on a range of assignments. There can be no assurances that the strategic review will result in any transaction involving the Club and we do not intend to make any further announcements regarding the strategic review at this time.
Rybolovelv became Les Monégasques’ majority shareholder back in December 2011, acquiring a 66% share in the club. Since the announcement that Rybolovlev was exploring “strategic alternatives for [his stake]” the Russian has become increasingly present at the Principality club, travelling for all home and away matches.
L’Équipe now report that there has been no considerable process in the sale process, meaning that it is unlikely that a sale will be completed between now and the end of the season.
GFFN | Luke Entwistle
Read on getfootballnewsfrance.com
