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Can Monaco find a last-minute rescue? The Principality has two months to avoid bankruptcy
Basketball club Monaco has been given a deadline by the court to resolve its financial situation and thus avoid bankruptcy, according to French media and numerous well-informed basketball portals.
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The club must find a definitive solution to its situation by June.
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The court has not declared Monaco insolvent, but the case remains open. Monaco has overcome another crucial legal hurdle after the court of first instance decided not to declare the club in a state of payment suspension. Four weeks after the appointment of judicial representative Stéphane Garin, Monaco has been granted additional time to continue its operations. (Eurohoops)
It was added that the court ruled there is currently no clearly established state of insolvency.
However, the prosecutor requested that the case be postponed until June to continue monitoring the club's financial situation. Garin is expected to continue his observation and support mission until then. In the short term, the situation has stabilized: players have been paid, debts to the French league and the French Basketball Federation have been settled, and luxury tax has also been paid. Nevertheless, significant uncertainty remains about what will happen after the end of the 2025/26 season, including a possible takeover, a new financial model, or a longer-term role for the Principality of Monaco, which provided a financial injection. (Eurohoops)
With three rounds remaining in the EuroLeague regular season, Monaco holds a 19-16 record and can still qualify for the play-in.
(Tanjug)
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