AS Monaco Basket hit by €41 M seizure
Forty‑eight hours ago, Italian authorities froze assets worth €41 million belonging to Alexey Fedorychev, president of the Roca Team and majority shareholder of AS Monaco Basket. The seizure, reported by Corriere Fiorentino, comes as the Monaco club finalises its roster for the 2024‑25 season.
Why is the Italian justice involved?
Fedorychev, a Russian‑born businessman with a Hungarian passport and Monaco residence, faces accusations of corruption linked to Ukraine. Florence’s financial police, working with the Ukrainian prosecutor’s office, seized several properties, including the 12th‑century castle Torre Del Gallo. This legal action follows a series of foreign investigations that have shadowed the owner since he took over the club in January 2022.
What does this mean for AS Monaco Basket’s finances?
The club already reported a deficit of several million euros at the end of the 2023‑24 season. FedCom Media, a subsidiary of FedCom, struggled to settle debts, notably to ASVEL. Despite that, Monaco cleared the LNB luxury tax and regularised its EuroLeague commitments, a document seen by L’Équipe confirms. The Italian seizure adds extra pressure on cash flow, yet the president insists the club will present deficit‑free accounts on September 15.
Are player moves still happening?
Yes. AS Monaco Basket announced a three‑year extension for guard Mike James, a contract estimated at roughly €8 million. The club also signed Greek international point guard Nick Calathes, adding a new dimension to its pick‑and‑roll. These signings show the front office is not slowing its roster‑building despite the financial turbulence.
Could there be a sporting sanction?
No clear sign of a license suspension or exclusion from European competitions. The LNB confirmed Monaco is up‑to‑date on the luxury tax and EuroLeague fees. Still, fans worry a further seizure could jeopardise salary payments, affecting rotation depth and bench productivity.
What lies ahead for the upcoming season?
The club plans to publish its accounts on September 15, showing no deficit, according to officials. If Italian authorities uphold the seizure, Fedorychev may need to liquidate additional assets to meet obligations. Meanwhile, the coach is preparing the squad to start the season with a full roster, hoping the talents of James and Calathes translate into wins on the court.