Source: bebasket.fr
The reigning French champions are expected to face the Monaco Court of First Instance this Friday, October 2, with bankruptcy appearing to be the only possible outcome.
This summer saw a dramatic saga surrounding the club’s ownership. Neither former NBA star Jamal Mashburn, nor footballer Ronaldinho, nor any other investors were able to guarantee the necessary payments.
Following these developments, it was anticipated that Monaco would compete in France’s third-tier division. However, the French Basketball Federation (FFBB) denied Monaco entry into the National League despite the club’s substantial resources suitable for the third division.
There was also an option for the club to participate in the second division of the Adriatic League, but the principality’s leadership, leveraging its ties with France, decided against permitting the club to take this route.
Since then, investor Thomas Kurk has withdrawn from the project. Training sessions led by the duo Markoishvili and Gladyr, who were prepared to take charge in NM1, have ceased. Players have moved on to other clubs.
Given the complete halt in activity and, consequently, the absence of income sources, judicial liquidation seems to be the only viable prospect. This marks a significant loss after a fourteen-year journey from National 2 to the EuroLeague final.
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