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Monaco rule out summer spending spree

Monaco will not repeat their massive spending spree of last year during the upcoming summer transfer window, the club's vice-president has stated.

Laurens: Ligue 1 2013-14 season review

Monaco's Russian billionaire owner, Dmitri Rybolovlev, has invested nearly 200 million euros of his vast fortune into the club since taking over as majority shareholder in December 2011.

That sum includes an estimated 135 million euros spent on bringing in Radamel Falcao, James Rodriguez and Joao Moutinho last summer to strengthen a squad that had just secured promotion from Ligue 2.

The trio helped repay some of Rybolovlev's investment by contributing to Monaco's second-placed finish behind champions Paris Saint-Germain last season, sealing a return to the Champions League for the 2004 finalists.

Despite immediate qualification for the group stage, however, Rybolovlev's right-hand man, Vadim Vasilyev, told media the constraints imposed by UEFA's financial fair play regulations mean last year's radical overhaul of the squad will not be repeated.

"Yes, the money set aside for transfers will be less significant. That's not a great bit of news as I already said that last year," Vasilyev said.

"We're in the stabilisation phase. We still need to develop, but financial fair play, particularly with the announcement of the punishments, underlines the fact that we have to work harder than before to generate more revenue with the development of sponsors. We also need more people to come to the Stade Louis II. All of that is very important for our future."

Monaco's return to the Champions League was not enough to keep coach Claudio Ranieri in his job at the Stade Louis II, however, with the club announcing on Tuesday that the Italian would be leaving his post.

Sporting Lisbon coach Leonardo Jardim is favourite to take over. It was reported in France last week that Jardim, 39, had finalised a two-year deal at a meeting with Vasilyev in Lisbon with Monaco paying between three and five million euros in compensation to Sporting.

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