The Reds and Whites have secured financing for another year.
The Conseil National has voted in favour of renewing a deal whereby the Societe des Bains de Mer (SBM) provide financial support to Monaco's football team in return for a reduction in fees paid to the State. However, with just 9 for and 6 against, the arrangement is for 1 year only, allowing AS Monaco to finish the 2010/2011 season without fear of being relegated by the French football monitoring body DNCG for accounting problems.
The National Council have asked the club board and the Government to return next year with a financial solution to balance the club books without having to rely on SBM. They also want to reconsider the capital structure of the club, since the current budget has led to Monaco's position in the league table well below that of previous years.
Various members of the Conseil National expressed their disappointment. Christophe Spiliotis-Saquet felt ashamed of the team's performance, and Laurent Nouvion said "ASM is a bottomless money pit, an athletic failure and disappointment for the people." Roland Marquet added that it was not possible to condone a system that could not ensure the continued financing of the club.
In reply, the Minister of State said the Government would present alternatives at the Conseil National's next plenary study commission.