ASVEL to reduce budget for next season: “Times were tough”

2024-04-12T12:13:06+00:00 2024-04-12T12:13:06+00:00.

Nikola Miloradovic

12/Apr/24 12:13

Despite having a club-record budget this season, LDLC ASVEL did not achieve the expected results

By Eurohoops team/

LDLC ASVEL’s president, Tony Parker, admits that the French club will have to lower its budget for the next season due to financial challenges.

It’s inevitably going to go down. Times were tough,” Parker said, talking to Le Progres.

The club’s budget for the 2023-2024 financial year stands at €21,000,000, but uncertainties arise from the struggles of its main partner, the Skweek platform. Skweek, owned by the Fedcom Media group, has reportedly fallen short of its sponsorship commitments, paying only a third of the agreed amount for the season.

We will see if the commitments have not been met at the end of June,” added Parker. “As for ASVEL, we want to remain positive. They told us they would respect their commitments.”

Currently, ASVEL ranks third in the French league and is set to finish 17th in the Euroleague.