AS Monaco say a decision by the French League (LFP) that will force the side to set up their fiscal residence in France “threatens their survival” and will be vehemently opposed.
The club’s base in the Mediterranean principality allows them to benefit from the favourable tax laws in place there, rather than the stricter French laws which include plans to tax earnings over 1 million euros ($1.3m, £853,000) at 75 percent.
While their rivals will be pleased with the change, voted through by the LFP’s Council of Administration on Wednesday just at a time when Monaco look set to re-emerge as a major force, the reaction in the principality was very different.
In a statement released on Friday, Monaco expressed their “astonishment” at the decision to alter the rules, which will come into effect as of June 1 2014, and criticised the LFP for not listening to their views.
They added: “While AS Monaco are working on an ambitious development project which will serve the greater interests of French football as a whole, this decision destabilises the club and the team in the middle of the season.
“This decision threatens the survival of AS Monaco, who could be excluded from French and European competition.”
Seven-time French champions and Champions League runners-up in 2004, Monaco were relegated in 2011 but a takeover later that year by Russian billionaire Dmitry Rybolovlev has revitalised the club.
Under Italian coach Claudio Ranieri, they currently sit top of Ligue 2, four points clear of Nantes, and seem certain to return to the top flight next season.
Monaco 'survival under threat' by new fiscal rules
