Monaco

Early history

AS Monaco FC was founded on 1 August 1920 through the unification of numerous local clubs based in France and the principality. On 23 August 1924, the multiple sports club of the Association Sportive de Monaco was founded. Monaco was then absorbed by the latter and became the football section of the enlarged Monegasque sporting club. Monaco played its matches on a football pitch located in the Fontvieille ward, on the site of the former Stade Louis II. Sometimes also played its home games in Roquebrune-Cap-Martin, France (which borders on Monaco) or on its opponent's pitch.

The club's early years were spent in the amateur regional divisions of the Provence-Alpes-Côte d'Azur region, rising rapidly between the leagues in the 1920s. In 1929, they moved to newly built Stade des Moneghetti, located in the French commune of Beausoleil and next to the border of the Les Moneghetti ward. It became the team's first stadium and remained there until 1939.

In 1933, Monaco were invited by the French Football Federation to turn professional. The Monégasques' first year of second-division football ended in failure, however, as they were relegated to the amateur leagues the following year. In 1939, the club moved to the Stade Louis II.

By 1948, Monaco re-acquired its professional status and returned to the French second division; they subsequently consistently finished in its upper echelons, with this sustained effort resulting in promotion to the French first division for the first time in 1953.

1960–1986: Domestic successes

In 1960, Monaco coach Lucien Leduc led the club to its first professional trophy, the Coupe de France, beating Saint-Étienne 4–2 in extra time. This initial success was bettered in the following year with the club winning the French Championship for the first time in its history, qualifying for the European Cup. Leduc subsequently led the club to its first League and Cup Double in 1963. Upon Leduc's departure in 1963, Monaco endured a barren run, entrenched in the middle half of the league for the best part of the next decade and alternating between the first and second divisions after 1963. In 1975, Jean-Louis Campora, son of former president Charles Campora, became chairman of the club. In his second season, he brought back Leduc, who immediately won the club promotion to the first division and won them the championship the following year in 1978. Leduc subsequently left the club again in 1979, to be succeeded by Lucien Muller and Gérard Banide, both of whom were unable to halt the club's decline.

The early 1980s saw a steady stream of successes in national competitions. Monaco won a title almost every other year; the Coupe de France in 1980 and 1985, the French Championship in 1982, was Coupe de France finalist in 1984. In the 1985–86 season, Monaco hammered Bordeaux 9–0, one of the biggest wins in club history.

Disappointingly for Monaco fans, the club could not translate its domestic leadership into European success. Up to this point, Monaco had never passed the first round of any European competition. Monaco lost to Dundee United (1981), CSKA Sofia twice (1982 and 1984) and Universitatea Craiova (1985).

1990s: Wenger and Tigana

In 1986, former Ajax manager Ștefan Kovács, who succeeded Rinus Michels and honed his Total Football ideals with the Dutch champions, came out of a three-year "retirement" to manage Monaco, but even he could not bring them success. With the club facing a second barren spell, they signed Arsène Wenger, who had hitherto been relatively unknown, managing Nancy without much success. Wenger's reign saw the club enjoy one of its most successful periods, with several inspired signings, including George Weah, Glenn Hoddle, Jürgen Klinsmann, and Youri Djorkaeff. Youth team policies produced future World Cup winners Emmanuel Petit, Lilian Thuram and Thierry Henry. Under Wenger, they won the league in his first season in charge (1988) and the Coupe de France in 1991, with the club consistently competing in the latter stages of the European Cup and regularly challenging for the league title. The club could have had even greater success in this period, as it emerged in 1993 that bitter rivals Marseille had indulged in match-fixing and numerous improprieties, a view that Wenger had long held. In 1994, after being blocked by the Monaco board from opening discussions with German powerhouse Bayern Munich for their vacant managerial post after being shortlisted for the role, Wenger was released from the club, several weeks after the post had already been filled.

After Wenger's departure, the club went on to record two further league championships; under Jean Tigana in 1997 and under Claude Puel in 2000. However, as the decade came to an end, rumours were surfacing that the club was facing numerous financial difficulties. In 2003, these financial problems came to a head. Despite finishing second in the league, the club was relegated to Ligue 2 by the French Professional League for amassing a €50 million ($68 million) debt. Whilst this was reduced on appeal to a ban on purchasing players, it was enough to force President Jean-Louis Campora, who had been in charge for 28 years, to step aside. He was replaced by Pierre Svara, an administrator considered to be close to the principality's princely family but with no footballing experience.