The French basketball financial supervisory authority earlier rejected the registration application of the country’s champions, so the club had to submit the missing documents and necessary financial guarantees to the league by July 30.
However, even after this deadline, Monaco did not receive good news and now intends to appeal to the French National Olympic and Sports Committee to reassess the verdict of the French Basketball Federation.
According to the decision of the French Basketball Federation, Monaco would not be allowed to play even in the country’s second division.
“Shock in French basketball,” writes the largest French sports news website L’Equipe.
Monaco encountered problems during the last season when the team could no longer register new players in the EuroLeague due to failure to meet financial obligations and played some games with only 7-8 players.
Although it was expected after the season that the team would get new investors, in the end, the only candidate to take over Monaco was the investment fund Helen Holdings of former NBA player Jamal Mashburn.
According to the court-appointed administrator cited by BeBasket, the total financial obligations of the Monaco club amount to 24 million euros. This sum includes 8 million euros of obligations recorded at the end of June and another 16 million euros allocated by the Principality of Monaco to allow the club to complete the last season.
However, the club’s lawyer Xavier Le Cerf-Galle assured that the main problems should be resolved soon.
“The takeover process led by Mashburn is currently progressing very successfully. In addition to the guarantees already provided, a few technical issues still need to be finalized by July 31. All parties involved are working determinedly to ensure sustainable development of Monaco not only for the upcoming but also for future seasons. We have every reason to be completely optimistic,” said the Frenchman.
After the last season, most of the brightest faces of the team in recent years have already left Monaco – Mike James, Alpha Diallo, Daniel Theis, Matthew Strazel, Elie Okobo, and others.
Having played five seasons in the EuroLeague and even competing in the tournament final in May 2025, Monaco will no longer participate in the EuroLeague next season – it is planned that the Principality’s team will play in the EuroCup, where it was drawn into the same group as Panevėžys Lietkabelis.
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However, many questions are now arising about the continuation of the Monaco club’s existence.
