Cash-strapped Monaco demoted

May 28, 2003
By Francois Thomazeau
PARIS, May 28 (Reuters) - Debt-ridden Monaco, who finished second in French Ligue 1 this season, were demoted to the second division by the French Professional League (LFP) on financial grounds on Wednesday.

The principality team, who achieved direct qualification into the Champions League, have debts estimated at between £40million and £65million.

The LFP's financial committee met with Monaco's officials last week, hoping for financial guarantees to be given, but apparently ...

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