The questions for the future of the EuroLeague remain no matter the CEO
In a new report, the non-profit network European Basketball Advisory Group presents the issues on financial and governance level that the EuroLeague has to face in the future, stressing once more the need for an alignment with all the major basketball stakeholders, including FIBA
www.eurohoops.net
I thought it was an interesting read and if you scroll to the bottom you can actually see the powerpoint show PDF with a lot more detail involved.
Euroleague seems to get talked about a lot on the hockey side of things when it comes to Champions League style tournaments in European hockey for example. However, it seems Euroleague basketball teams are in the same boat as Euro hockey teams - rich owners financing the losses.
The article points out that all EL teams, except one, ALBA Berlin, are losing a lot of money each season. ALBA Berlin are the only team to show that they are self sustainable. They have shown a €107k euro profit in the 2019-20 season (the report using 2015-2019 as their guide)
Some highlights of the finances.
FC Barcelona Basketball annual losses
2015 -€22.5m
2016 -€23.2m
2017 -€28.8m
2018 -€22.3m
2019 -€34.6m
The team has spent anywhere from €24m to €34m on salaries, depending on the season.
Real Madrid Basketball over the same period, average losses of -€23.8m
FC Bayern Munich, while they don't lose as much, are still not making any money and with the same setup as Barcelona and Madrid, their costs are being covered by the football/soccer team. Although Bayern are looking to make themselves self sustainable in Basketball.
Fenerbahce from Turkey reported loses of around -€9m.
Euroleague itself made a loses of -€7m, but they were covered by a partnership with IMG
It does state that the owners of the EL teams are currently happy with the situation and are willing to cover costs. Currently the league allows for a team's cost of up to 50% to be covered by shareholder/direct investment from the owner.
