Basketball team in economic collapse: heavy debts, relegation to the third division
Just 15 months ago it played in the EuroLeague final, and last season it celebrated a championship and four titles, but now Monaco is experiencing a historic collapse: the French Basketball Federation rejected the club's appeal after it failed to provide financial guarantees, and it has been relegated to the third division.
It is hard to grasp how quickly the tide has turned for Monaco. Just 15 months ago, the team from the principality was one game away from a historic EuroLeague win, and later recorded an absolutely insane domestic season, capturing four titles — an unprecedented achievement in its history. However, on Sunday, the reigning French champion suffered a crushing blow.
According to reports in France, the French Basketball Federation (FFBB) rejected the club's request for an urgent review of its situation. The dramatic implication: Monaco, one of the top teams in Europe in recent years, is definitively removed from the professional leagues and will not be able to play in the upcoming season in the top league or the second division. In the best case, it will start the season in the third division.
Empty promises
The difficult decision comes just one day after a previous ruling against the club. In Monaco, they hoped that signs of economic stabilization and the possibility of bringing in new sponsors would save the situation at the last minute. But from the perspective of the French federation, it was too late. The team failed to provide the financial guarantees required, after long months of unfulfilled promises.
At this stage, the door back to the top leagues is definitively shut. The only legal option remaining for Monaco is a petition to the administrative court, but according to reports, the club's management is not planning to take such a step, which completes the crash of the project.
Relying on the academy
Now in Monaco, they are forced to recalculate their path and try to save the club from total collapse. The club's amateur team, which includes 455 registered players, has already begun to examine the possibility of fielding a team to play in the third division.
According to the emerging plan, the rehabilitation and rebuilding process will be led by young players from the club's academy who hold contracts, to be joined by two foreign players — the maximum allowed under federation regulations in this league. Next week, a series of fateful meetings are expected to take place with the goal of saving what remains of the principality's ambitious basketball project.
