Crvena Zvezda has a budget of €5.1M, per president Covic

2021-08-29T13:26:51+00:00 2021-08-29T13:26:51+00:00.

Antigoni Zachari

29/Aug/21 13:26

Eurohoops.net

President Covic states that Crvena Zvezda has set a gross budget of around five million euros for the upcoming campaign

By Eurohoops team / info@eurohoops.net

Crvena Zvezda president Nebojsa Covic revealed the club’s budget for the upcoming 2021-22 season in an interview with TV Prva, which won’t differ greatly from last season’s one when a significant decrease occurred due to the COVID-19 pandemic.

“Our gross budget for the first team will be around 5,100,000 euros”, said Covic, as adapted by mozzartsport.com. It should be noted that the club’s 2020-21 budget suffered a decrease of nearly 30% (~€8M in the 2019-20 campaign).

“There are not only fees for players, but also for managers, for apartments and providing cars for them. According to the law on sports, you must have an employment contract and a compensation contract. They all have certain obligations to the state. Also, it is true that we owe about 30,000,000 dinars for VAT, but we owe that as a consequence of the COVID-19 strikes. We tried to come out clear with the Tax Administration, their decision is awaited”, he says.

This offseason, Crvena Zvezda has added Austin Hollins, Nikola Ivanovic while they have brought back Luka Mitrovic, Nikola Kalinic, Nate Wolters and Stefan Lazarevic.