EuroLeague Team Banned From Signing Players Over Massive Debt
Translated & summarized from N12 by baba
The story in 5 lines · by baba
- ASVEL banned from signing players due to significant debt.
- The debt is owed to former player Joffrey Lauvergne.
- Estimated debt ranges from 200,000 to 300,000 euros.
- The team previously faced financial penalties.
- Co-owner Tony Parker is associated with the club.
French EuroLeague club ASVEL, co-owned by Tony Parker, has been banned from signing new players until further notice due to a significant debt owed to former player Joffrey Lauvergne. European estimates place the outstanding amount between 200,000 and 300,000 euros, with two payments to Lauvergne reportedly failing to clear.
The ban comes after a summer where ASVEL signed several notable players, including Sylvain Francisco and Daniel Theis. However, due to issues with budget control and funding sources, both players ultimately signed with other clubs, Francisco with Panathinaikos and Theis with Maccabi Tel Aviv.
This is not the first financial issue for ASVEL, as the team faced a fine from the EuroLeague last season for failing to meet the minimum salary cap requirements for its players. The team currently holds a 1-1 record in the EuroLeague this season, having defeated Maccabi Tel Aviv and lost to Panathinaikos.
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