The club's current president has announced that the billionaire businessman is expected to purchase the club by the end of 2011
Monaco is set to be taken over by Russian billionaire Dmitry Rybolovlev in the coming weeks, according to the club's president, Etienne Franzi.
The French giants are currently languishing at the bottom of Ligue 2 after their relegation last season and are in need of a cash injection to avoid sinking any further down the French league pyramid.
Franzi, who was appointed chief of the club in 2009, is reported as saying in France Football: "We have a plan designed in such a way that everything will be decided before the end of the year and it will be Mr Rybolovlev and his group."
"It's good news for AS Monaco and for French football in general."
Rybolovlev is currently listed 93rd on the Forbes rich list after selling his fertilizer producer Uralkali for five billion euros in June 2010.
Monaco is in league action on Saturday, looking for its second win of the season as it travels to face Le Havre.
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