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Tony Parker's French Club 'Not Viable', Auditing Body Says

A public accounting body released a Tuesday report stating ASVEL Basket, majority-owned by Tony Parker, is financially not viable long-term.
The report covers 2018-2023 performance, showing ASVEL Basket has been loss-making in three of five periods due to high payroll and insufficient revenue.
ASVEL, a suburb Lyon-based team with a record 21 French championships, received 3.3 million euros in Covid state aid and shareholder injections but still faces poor finances.
Tony Parker admitted he had to "dip into my own fortune to pay some of the club's debts," while sponsors failed to fulfill financial promises.
The report indicates ASVEL has the worst financial status among Pro A League clubs, suggesting ongoing risks despite Parker's ambitions to elevate the team in Europe.

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Le Figaro

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Tony Parker's Asvel's Economic Model Is Not "Sustainable over Time" According to a Report

The regional chamber of accounts of Auvergne-Rhône-Alpes has peeled the 2018 to 2023 exercises of the basketball club of Villeurbanne. The increase in the wage bill has weighed on the revenues.

20 hours ago·Paris, France

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Le Parisien

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Basket: Regional Court of Auditors Pins Down Tony Parker's Asvel's "Degraded" Finances

Its economic model, "structurally in deficit", "appears to be unsustainable over time", is the control body.

1 day ago·Paris, France

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Daily Journal

+25 Reposted by 25 other sources

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Tony Parker's French club 'not viable', auditing body says

ASVEL Basket, the French basketball team majority owned by former NBA star Tony Parker, has parlous finances and is "not viable over the long-term", a public accounting body said in a report Tuesday.

1 day ago·Cherokee County, United States

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Lyonmag.com

"Economic Model Not Sustainable over Time": ASVEL's Financial Situation Pointed the Finger at by the Regional Court of Auditors

After OL, whose finances are in the red, it is another historic club in the Lyon agglomeration that is in great difficulty.

18 hours ago

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leprogres.fr

Basket. The Regional Chamber of Accounts Highlights the Financial Fragility of Asvel

After reviewing the 2018–2024 financial years, the regional supervisory body considers that Asvel Basket's business model and sustainability "are not insured for the duration without the constant financial support of shareholders", including Tony Parker.

2 days ago

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