Russian billionaire exploring possible sale of French soccer club Monaco

Monaco: Russian billionaire Dmitry Rybolovlev is exploring the possibility of selling his stakes in French soccer club Monaco. Rybolovlev has been the majority owner of Monaco since 2011.

After Les Echos newspaper reported that the fertilizer magnate was open to selling the club and had mandated The Raine Group to work on a total or partial divestment project, a representative of Rybolovlev's family office confirmed the move.

"The majority shareholder of AS Monaco has decided to commence a process to explore strategic alternatives for its stake in the club after receiving unsolicited inbound interest," the representative said in an email to The Associated Press.


"The majority shareholder has retained The Raine Group to serve as its exclusive financial adviser on this matter."

Monaco is one of the most successfulFrench league clubs. The Principality side has won eight league titles as well as five French Cups. Monaco also reached the Champions League final in 2004, losing 3-0 to Porto.