MONDAY, 21 SEP 2020



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Christodoulides: Turkey Chooses Further Escalation In The Case Of Cyprus

Merkel And Conte Express Full Support To Cyprus



Is Dmitry Rybolovlev Football’s Wise Man?

Is Dmitry Rybolovlev Football’s Wise Man?

AS Monaco’s President Dmitry Rybolovlev has made the news of late for his bold decisions: as Europe’s clubs pour billions of euros into transfer dealings in this record summer window, he has been making some striking deals and taking a very different approach.


What many may not know, however, is that Rybolovlev, as of September 2010, has held a 9.7% stake in Cyprus’ largest bank, the Bank of Cyprus.


Rybolovlev's investment in Bank of Cyprus followed a long business and personal association with the country, which has also included his decision to support the construction of the St. Nicholas Russian Orthodox Church in Limassol.


Meanwhile, as AS Monaco’s President, Rybolovlev made waves in the football world by selling World Cup star James Rodrigues to Real Madrid for €90 million, reflecting a 100% return on the €45 million Monaco paid in 2013 when the player was far less well known.


He has also just negotiated a €10 million deal to loan Radamel Falcao to Manchester United for the season, as well, of course, as getting the English club to cover Falcao’s salary. What’s more, this figure could rise to a further €55 million should Manchester United take the option to buy the player.


Rybolovlev is described as having a strategy to build Monaco into one of Europe’s great clubs but not by splashing the cash indiscriminately: he wants to do so on a sustainable financial basis.


His is depicted as having a long-term vision based on building the international Monaco brand; developing the youth resources where the club has a rich tradition; and mobilising the passion for the game within the Principality. 


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