Huge budget from Tony Parker: ASVEL make history

French basketball club ASVEL are preparing the biggest financial investment in their history under Tony Parker. According to L'Équipe, the Villeurbanne side have presented a €58 million operating budget and a €20 million player payroll for next season. These figures would be the highest budget in the history of French basketball.

The numbers represent a major leap for the club. The €58 million budget marks an increase of around 210% on last season's €18.7 million. The rise in the player payroll is even more striking: from €4.5 million to €20 million, an increase of around 344%. This huge investment was made possible by the Buss family, former owners of the Los Angeles Lakers, taking a stake in the club.

There is also a major change on the sporting side. NBA legend Tony Parker, who has run the club since 2014, has been officially confirmed as head coach. Parker will also continue as a minority shareholder and president of basketball operations, holding a ten-year "moral agreement" with the club. Parker is set to earn around €1.2 million a year, which would make him the highest-paid coach in French basketball history.

Parker's single goal is clear: to win the club's first European title. No French team has reached a European Final Four since 1993, and ASVEL not since 1997. With that aim, Parker has confirmed signings including Sylvain Francisco, Daniel Theis, Armoni Brooks, Nick Weiler-Babb and Both Gach, while experienced coach Vincent Collet joins the staff. Aiming to establish themselves among Europe's elite and prepare for the proposed NBA Europe project, ASVEL enter their new era with ambition.

Source: L'Équipe
Image: Le Parisien