Source: krepsinis.net
ASVEL owner and head coach Tony Parker believes that the financial instability at Monaco prevented his club from executing a high-budget project.
“I think we are simply paying the price for the broken pieces at Monaco. The DNCG, the French financial regulatory body for professional clubs, was unwilling to take risks on a project of this scale. Our investment fund fully backed my plans to move forward.
I would never have disclosed these figures or taken these steps if everything had not been approved. However, projects like this require time to complete – legal matters need to be resolved, and there are thousands of details involved in the process. Due to specific guarantees demanded by the DNCG, we were unable to finalize everything on time, which meant we could not meet the originally planned budget,” Parker explained.
The initial plan was for ASVEL to operate with a €55 million budget, but Malaysian investors failed to secure approval. As a result, the French powerhouse will have a budget of €27 million for the 2026/27 season.
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