AS Monaco Basket announced on Friday that it had “officially appealed the sanction handed down by the LNB on August 29” penalizing the two-time reigning French champion with one less victory for the season for “failure” to ensure financial transparency and fairness.
“The club, which believes it has not breached any rules, is determined to defend its position and will continue to work closely with the relevant authorities throughout the process.”the Monaco club said in a press release released on Friday.
On August 29, the LNB indicated that its legal, disciplinary and regulations committee (CDJR) had punished Monaco for “failure (…) concerning the club’s obligation of transparency and sincerity with regard to the regulations relating to sporting fairness”.
The club from the Principality was fined 20,000 euros, given a win in the Betclic Elite season standings and given a suspended sentence.
The LNB did not provide details on the nature of its grievances. But according to a source close to the case, the sanction would relate to an image rights contract concluded between the club and its American star Mike James, who, last June, extended until 2027.
Due to the advantageous tax system of the principality, the Rocher club pays the LNB a «Luxury Tax»or luxury tax, proportional to its payroll, for fairness with the other teams in the French championship.
However, according to the same source, the image contract in question would make it possible to circumvent this regulation by artificially reducing the club’s payroll, and therefore the amount of the «Luxury Tax»Monaco will travel to Saint-Quentin next Friday, to open the 2024-2025 championship.
