Crvena Zvezda’s total budget 30% smaller, 3M euros reserved for players salaries

2020-08-05T18:42:31+00:00 2020-08-05T18:43:03+00:00.

Stefan Djordjevic

05/Aug/20 18:42

Crvena Zvezda president Nebojsa Covic revealed the financial numbers for the upcoming 2020-21 season

By Stefan Djordjevic/

While Crvena Zvezda mts Belgrade has been quite active in the transfer market, trying to piece together a squad for the new head coach Sasa Obradovic, the club president noted that the total budget for the 2020-21 campaign will be 30% smaller than last year – at around five million euros.

“The budget of Crvena Zvezda for the next season will be five million euros net; it will, therefore, be 30 percent lower compared to the previous competition year. Revenues from the sold season and individual tickets had a share of some 25 to 30 percent in the budgets of previous seasons. Due to the coronavirus pandemic, this will obviously not be possible next season,” Nebojsa Covic said, per Danas.

The team brought in five foreigners this summer – Landry Nnoko, Jordan Loyd, Corey Walden, Langston Hall, Duop Reath – as well as Marko Simonovic together with a couple of young talents in Aleksa Radanov and Aleksa Uskokovic.

All those additions will have to fit into 60% of the total budget, that is, the three million euros, which is the amount reserved for the players’ salaries.

“We are talking about the recommendation of the Euroleague, which Crvena Zvezda respected in previous seasons and will continue to respect in the future. Approximately, three million euros will be spent on the salaries of players in the next season, among which the largest will be around 400,000 dollars, more precisely between 350 and 400 thousand, and the smallest 70,000 euros, that is, between 50 and 70 thousand,” he explained.

The training for the squad is planned to begin around August 11 and the foreigner players are expected to arrive in the city a couple of days earlier.

More EuroLeague news