AS Monaco earlier this afternoon released a statement in response to a wave of Football Leaks allegations which claimed that AS Monaco owner Dmitry Rybolovlev allegedly attempted to hide injections into the club via a fictitious sponsorship contract & through a series of off-shore accounts through Hong Kong & the British Virgin Islands.
“The club firmly denies having bypassed Financial Fair Play through a contract with a marketing agency, contrary to false claims published by French and European media. The published articles contain false information and many inaccuracies. The club had hoped to develop its commercial resources and sponsorship through a contract with the agency AIM. AS Monaco wishes to point out that this contract included marketing resources, sponsoring but also all revenue related to the Champions’ League. The agency was charged to find 30 million euros in additional resources. But this contract (which proved to be too ambitious and unachievable) has never been executed and as such never entered the club’s accounts for the DNCG or for UEFA, on the initiative of the club itself. It has therefore at no time been used in the context of Financial Fair Play.”
“On the back of its deficit accounts (without taking into account this marketing contract), AS Monaco was penalised by UEFA for 3 million euros (plus 10 suspended) and sports sanctions.The club was forced to choose an alternative strategy, based on the sale of players, to find the resources necessary for its operation to be in compliance with the rules of Financial Fair Play. This subject justifies again the current policy, which is the only economically viable strategy for AS Monaco and complies with the regulations.”