By Nikola Miloradovic / info@eurohoops.net
AS Monaco have received another extension from the French Basketball Federation’s Appeals Chamber as the club continues working to complete a takeover led by former NBA All-Star Jamal Mashburn.
As BeBasket reports, Monaco now have until Thursday, July 30, at 23:59 to submit all the documents required for admission to the 2026-27 Betclic ELITE season. The DNCCG, French basketball’s financial watchdog, rejected the club’s registration at the first instance.
Other potential buyers have reportedly withdrawn, leaving Mashburn’s Helen Holdings investment fund as Monaco’s only remaining takeover candidate.
According to the court-appointed administrator cited by BeBasket, Monaco’s financial obligations amount to €24 million. That figure includes €8 million in liabilities recorded at the end of June and the €16 million provided by the Principality to enable the club to complete last season.
“The takeover of the club by Jamal Mashburn is currently progressing very well,” attorney Xavier Le Cerf-Galle told BeBasket. “In addition to the guarantees already provided, several technical points still need to be finalized by July 31. All parties involved are working with determination to ensure the sustainable development of AS Monaco, not only for next season but for the seasons ahead. There is every reason to be fully optimistic.”
However, optimism surrounding the negotiations does not represent formal approval. The relevant authorities are still awaiting definitive proof of the investors’ financial commitment. According to Nice-Matin, Mashburn has provided guarantees for an investment of approximately €10 million.
Monaco are expected to appear before the FFBB Appeals Chamber and a Monaco court on Friday. Approval from the federation would likely make the proceedings required to avoid insolvency a formality. Otherwise, the club could appeal to the CNOSF and subsequently take the case to an administrative court.
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