MONACO(AFP) – Monaco's billionaire
Russian owner Dmitry Rybolovlev
announced on Friday the signature of
Colombia forward Radamel Falcao from
Atletico Madrid in a deal believed to be
worth around 60 million euros ($77
million).
"I would like to officially announce that
Falcao has signed his contract,"
Rybolovlev said through a French
interpreter at an event celebrating
Monaco's promotion to the French top
flight next season with Prince Albert of
Monaco and coach Claudio Ranieri also
present.
Rybolovlev didn't give any details about
the size of the transfer, although
Monaco said on their website the player
had signed for five years.
"I am very happy at his arrival," beamed
Ranieri, who was Chelsea manager when
they lost to Monaco in the 2004
Champions League semi-finals.
"He is a very important player for us, a
great player and a great goal scorer.
"We want to build a very good team
around him. He plays for the team but is
also very efficient around goal. He is
very impressive," continued the Italian.
"When I arrived at this club, I knew what
the project was. Now everyone
understands my decision," he added
about taking over the coaching duties
when they were playing second division
football.
Although the fee has not been disclosed,
media sources in France claim it is one
of the largest, if not the largest in the
country's history.
Monaco vice-president Jean-Louis
Campora added: "We will not be giving
any details on the content of the
contract right now because we have an
appeal in progress. We will give them in
the future."
That appeal relates to a decision by the
Professional Football League (LFP) that
forces Ligue 1 teams to be based in
France from 2014.
Falcao had a 60 million euro buy-out
clause in his Atletico contract but some
media sources claim the actual transfer
fee is 45 million euros with the player
due to pick up an annual salary of 14
million euros.
If those figures are accurate it would still
make Falcao one of the most expensive
buys in French football history.
The current biggest transfers were the
40-45 million euros Paris Saint-Germain
paid AC Milan for Brazilian Thiago Silva
and the 40 million euros they handed
over to Sao Paulo for Lucas Moura.
Since being bought by the Qatar
Investment Authority in 2011, PSG
turned French club football on its head
by bringing an until then unheard of
and unrivalled spending potential into
the country.
But Rybolovlev has already shown
during the close season, since his side
won promotion back to Ligue 1, that he
is ready to compete with his
chequebook.
"I want to thank all those who believed
in our success," continued the owner.
"Managing a club as important as
Monaco is a great honour. I have an
incredible feeling and great pride but
this is just the beginning."
However, Monaco's financial might is
partly aided by the favourable tax laws
in the Principality.
Whereas high income taxes in France
prevent teams from paying the kind of
salaries on offer in other major
European leagues, such as England,
Germany, Italy and Spain, Moanco is not
subject to the same tax laws, giving the
club an advantage over their domestic
rivals.
But the LFP's decision would change
everything for Monaco, and perhaps
reduce their spending capacity.
The club has appealed against the
decision and is awaiting arbitration.
Falcao arrived in the Principality on
Monday night and undertook a medical
on Tuesday while details of the deal
were being finalised.
Since then the 27-year-old returned to
Madrid, where he still has one last league
match commitment to fulfil with Atletico.
According to some sources there is a
get-out clause in a year's time if one of
Europe's so called larger clubs, come in
for Falcao.
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