In a press release, the Euroleague said it was forcing ASVEL to increase its payroll, because it did not meet the requirements of financial fair play.
Most often, clubs which do not respect financial fair play are sanctioned because they have spent too much. ASVEL, for its part, is forced to spend more money. The Villeurbanne club was in fact forced by the Euroleague authorities to increase its payroll, so that it reached 5,846,983 euros, a sum which corresponds to 30% of the average income of clubs holding an A license. Financial fair play was introduced this season in the Euroleague, and ASVEL presented a payroll of 4.6 million euros.
“As indicated in Article 10.8 of these regulations, clubs must reach their lower remuneration level (the “LRL”, i.e. 5,846,983 euros) before the end of the Euroleague registration period. Previously, clubs must also have committed at least 80% of their LRL defined at the closing of registrations for the first day of the Euroleague regular season,” the body wrote in its press release.
However, the club chaired by Tony Parker is missing 77,000 euros to reach this threshold of 80%.
ASVEL is considering leaving the Euroleague
“Following the compliance review, it was found that LDLC ASVEL Villeurbanne did not comply with the minimum spend requirement of 80% at the close of the registration process for the first round of the Euroleague regular season, as stipulated in Article 10.8 of the regulations. In accordance with applicable regulations, the following measures will be immediately implemented: In all these cases, the difference between the remuneration incurred for the season and that of the LRL must be distributed equitably between the players under professional contract registered on the list at that time. Failing this, or if a payment is not made within the set deadlines, this amount will be considered as an unpaid debt,” continues the Euroleague.
This sanction comes in a particular context, since ASVEL (currently last in the Euroleague rankings) is studying the possibility of leaving the largest European competition next season in order to embark on the NBA Europe adventure.
