Less than three months have passed since ASVEL’s last official game, a playoff quarterfinal elimination against Cholet, but the club’s summer has felt much longer.
In that short period, ASVEL has gone through a major restructuring, with its budget dropping from €59 million to €24 million, as reported by L’Equipe. The reduction represents a significant blow to the club’s ambitions and credibility.
However, €24 million is still enough to build an attractive Plan B. In fact, it is the biggest budget in ASVEL’s history, giving the club considerable resources to build a competitive roster.
Patty Mills headlines ASVEL’s new project
Despite the financial reduction, ASVEL has completed a promising recruitment campaign on paper.
Patty Mills will be the headline signing of the new project, giving the Villeurbanne club an experienced international star to build around.
It is a significantly different project from the one originally planned, but ASVEL still has the resources to compete at a high level.
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Tony Parker takes an 80% salary cut
Tony Parker has also contributed to ASVEL’s financial adjustments.
The future head coach was initially expected to receive a record salary for a Betclic ÉLITE coach, estimated at more than €1 million.
Instead, Parker has agreed to cut his salary by five times.
He will earn approximately €200,000 for the entire season.
To put that figure into perspective, Parker earned almost that amount in less than a week during the most lucrative period of his NBA career. In 2016/17, he made $15.4 million with the San Antonio Spurs.
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Parker keeps most of his coaching staff
Parker’s financial sacrifice will also allow him to retain most of his coaching staff, with Vincent Collet remaining a key figure.
The notable exception is Guillaume Soares, who was expected to serve as an assistant defensive coordinator.
“It’s important that my entire coaching staff is here. They shouldn’t have to suffer because of what happened,” Parker said.
After an eventful summer, ASVEL will therefore enter the new season with a significantly reduced budget, but still with the largest financial resources in the club’s history.
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