Billionaire Dmitry Rybolovlev has hired an advisory firm to study the possibility of a sale of his controlling stake in AS Monaco football club amid interest from potential buyers, according to Bloomberg.

Les Echos had reported on Sunday that Rybolovlev has received at least two proposals to sell his stake, each from American investors and sent last year.

Rybolovlev’s has reportedly appointed investment bank Raine Group to serve as its financial adviser as it looks at “strategic alternatives for its stake in the club after receiving unsolicited inbound interest,” according to an emailed statement from Rybolovlev’s family office. “There can be no assurances that the strategic review will result in any transaction involving the club,” it added.

The 57 year-old Monaco resident acquired a 67 percent stake in AS Monaco in 2011 and promised to invest at least 100 million euros into the club over the following four years. AS Monaco is one of the most successful clubs in France’s top league and has won eight titles so far, Bloomberg reports.

Raine has been involved in a number of major sports deals, most recently on the sale of a Manchester United stake to billionaire Jim Ratcliffe, also a Monaco resident. In 2022, it handled the offloading of Chelsea FC on behalf of Russian billionaire Roman Abramovich.

FILE PHOTO: Soccer Football – AS Monaco Training – La Turbie, France, March 29, 2018. Dmitry Rybolovlev of Russia, President of AS Monaco Football Club arrives to attend AS Monaco training. REUTERS/Eric Gaillard/File Photo