AS Monaco Basketball Declares Insolvency and Drops to France's Third Tier
AS Monaco basketball club declares insolvency and drops to the third tier in France following financial collapse tied to oligarch Aleksey Fedorychev's legal troubles.
AS Monaco, one of Europe's premier basketball clubs in recent years, announced on Wednesday that the operating company of the basketball team has entered insolvency and its operations will be suspended, with hopes of restructuring and returning the club to activity in the future. As a result, the team will drop to the third tier in France and attempt to climb back up, much like it did on its way to the top of the French and European leagues.
Official Statement and Legacy
In an official statement released by the club, management stated: "Today is a sad day. Despite all efforts, the club will cease its operations in the hope of finding another way to restart our project. We leave as an undefeated team from last season, having won every possible title in France."
"We beat every major team in Europe, won the EuroCup, and no one can take away what we achieved in recent years. Our legacy or fighting spirit cannot be erased."
The Fall of the Patron
The story begins with Aleksey Fedorychev, a tycoon and Russian oligarch who founded Fedcom, growing it into a leading global trading and logistics company for fertilizers, chemicals, and grains. In 2022, Fedorychev was appointed president and controlling owner of AS Monaco Basket, pumping massive funds into the club and transforming it into a European powerhouse featuring top-tier continental talent.
However, in December 2022, following a raid at the port of Odessa, hundreds of thousands of tons of his goods were confiscated, leading to a decade-long wave of sanctions, trade restrictions, and asset freezes. Throughout 2024, Italian law enforcement authorities seized 41 million euros in assets from the oligarch amid investigations into severe corruption, bribery, and money laundering exceeding 60 million euros.
Financial Collapse and Sporting Impact
An emergency injection of approximately 30 million dollars from the Principality of Monaco failed to keep the club afloat, and a rescue attempt by a group of investors led by former NBA star Jamal Mashburn ultimately collapsed after required guarantees were not provided.
Under Fedorychev's tenure, the club reached the EuroLeague Final in 2025, secured three French championship titles in 2022/23, 2023/24, and 2025/26, and won two French Cups. From an Israeli perspective, the club famously defeated Maccabi Tel Aviv in the EuroLeague playoffs during the 2022/23 season.
