AS Monaco vice-president Vadim Vasilyev has defended their work during the summer market.

The departure of Radamel Falcao to Manchester United and their failure to compete for Angel di Maria's signing has led to pundits claiming the 'Monaco project' is over.

"The president is still ambitious," argued Vasilyev.

"He wants the best for his projects. We need to change our strategy because it does not come under the financial fair play. It is not possible. This is the number one problem.

"We saw with PSG and Manchester City that the sanctions were heavy.

"So our president will not pay a fine. He's invested personal money, so there is no question of paying a fine."

But he added: "We will never have the same project as Paris (PSG). Here it is pretty, but too small."

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