The French National Basketball League (LNB) has granted AS Monaco a significant 30% reduction on its Luxury Tax. This decision follows earlier considerations by the LNB to provide €500,000 to the Monegasque club due to its financial difficulties, an idea that was ultimately abandoned.
The Roca Team had been obligated to settle this tax since early January, having substantially exceeded the permitted salary cap of €8.5 million with an estimated payroll reaching over €13 million. Facing the serious threat of bankruptcy and a potential suspension from the LNB playoffs if the tax remained unpaid, this reduction offers crucial support for the club’s financial stability.
