Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).


SBD Global/May 6, 2013/International Football

Club Taking Action Against Orders To Move Headquarters Or Make Hefty Payment

Monaco forward Nabil Dirar reacts during a match against Caen Saturday at the Louis II stadium in Monaco.
Ligue 2 club Monaco plans to "take legal action against a French football league edict" that it must move its headquarters to France, ending tax exemption for the club's players, according to Julien Prerot of REUTERS. In a statement on Sunday, Monaco "accused French football authorities of demanding an 'outrageous' payment" of €200M ($262.2M) to stay in the French championship without having to move. The French federation (FFF) said that "it was the principality club which brought up the subject and the figure." Monaco, which is on course for promotion back into the top flight, has attracted many leading players over the years, "helped by the fact that, under the principality's laws, foreigners do not pay tax on their wages." The French League (LFP) has ruled that Monaco must move its head office to France by the start of June next year, "meaning players would pay tax in France." The club said on Sunday, "[Monaco], after consultation with its legal counsel, has decided that it has no other choice but to bring legal action in order to obtain a judicial resolution of the dispute" (REUTERS, 5/5). GOAL's Joe Wright reported Monaco has now released a statement that FFF President Noël Le Graët, on behalf of both the FFF and LFP, "has requested an exorbitant sum of money to be paid in order for the club to avoid having to push through their relocation." Monaco's statement said, "Monaco FC would like to put on public record a meeting that took place on Friday between the president of the club, Mr. Dmitry Rybolovlev, and the president of the French Football Federation, Mr. Noël Le Graët. At this meeting, Mr. Graët, acting on behalf of both the FFF and the LFP, demanded from Monaco a huge payment of €200M in return for ending the current conflict without the club having to relocate its headquarters to France in order to remain in the French championship" (GOAL, 5/5).

MONACO COULD RIVAL PSG: INSIDE WORLD FOOTBALL reported Monaco has the financial resources to rival Paris St. Germain, thanks to billionaire Owner Dmitry Rybolovlev. Rybolovlev "currently resides in Monaco and bought a 66% stake in the club in late 2011, since when he has saved the club from possible relegation to the third tier and brought in Claudio Ranieri and a host of new players" (INSIDE WORLD FOOTBALL, 5/3).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug