PARIS (AP) French soccer club Monaco has denied accusations it tried to bypass Financial Fair Play rules through a fake contract with a marketing agency.
[ MORE: Ligue 1 score, schedule ]
Monaco says stories published by the Mediapart website and other media as part of a “Football Leaks” series “contain false information and many inaccuracies.”
According to Mediapart, Monaco owner Dmitry Rybolovlev attempted to hide illegal funding behind a marketing contract involving an offshore structure of companies in the British Virgin Islands and Hong Kong.
Monaco says it signed a deal with the AIM agency but insists the “contract (which proved to be too ambitious and unachievable) has never been executed and as such never entered the club’s account … It has therefore at no time been used in the context of Financial Fair Play.”