The French Olympic Committee has delivered a grim verdict on "Monaco." The club will disappear due to massive debt.
Source: basketnews.com
The National Olympic Committee of France has barred Monaco from participating in the country’s third division championship.
Previously, the French Basketball Federation made a similar ruling, but Monaco had hoped to appeal the decision through a higher authority.
Monaco confirmed it holds €3 million in its accounts; however, the club is burdened with a debt totaling €21.7 million. It is highly unlikely that Monaco will resolve these financial issues before the start of the new season, putting its future as a professional team in jeopardy.
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