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In a statement released Monday, AS Monaco denied "firmly" that it had avoided financial fair play through a contract with a marketing agency.
Once again touted by "Football Leaks" and revelations led by the media consortium EIC, including Mediapart in France, Monaco reacted by a statement on Monday. While the latest survey reveals that ASM's Russian president Dmitry Rybolovlev has attempted to disguise his donations in sponsorship income via offshore publishing, and to circumvent financial fair play (FPF), the club "vehemently deniesThis information
ASM does not deny the existence of a contract with the AIM agency, but notes that the latter "It was never executed and as such never entered the accounts". The statement said that the club was sanctioned by Uefa with three million euros (and not two, as indicated by Mediapart) for the study of its deficit accounts.
The AS Monaco press release
"The club denies firmly that it has flouted financial fair play through a contract with a marketing agency contrary to false statements published by the French and European media.The articles published contain false information and many inaccuracies. its commercial resources and sponsorship through a contract with the AIM agency AS Monaco wishes to point out that this contract included marketing resources, sponsorships but also all revenues related to the Champions League.The agency had to find 30 million additional resources.
But this contract (which proved to be too ambitious and unattainable) was never executed and, as such, never entered the club's accounts for DNCG or UEFA, the club's own initiative. Therefore, it has never been used for financial fair play. On the back of their deficit accounts (not taking into account this marketing contract), AS Monaco were penalized by UEFA with € 3 million (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 needed for its operation, in accordance with the rules of financial fair play. This subject again justifies the current policy, which is the only strategy economically viable for Monaco and respectful of regulations. "