 The remaining 33% stake in the club is owned by Monaco's ruling family, the House of Grimaldi, with Rybolovlev's acquisition of the stake in the club approved by Prince Albert II of Monaco.Dmitry Rybolovlev was subsequently appointed president of the club.Though historically Monaco is one of France's most successful clubs, they were struggling at the time of Rybolovlev's arrival, and had been relegated to the second tier of French football, Ligue 2.