Zvezda president Nebojsa Covic on Campazzo's signing, next market moves, club's budget / News - Basketnews.com

Crvena Zvezda president Nebojsa Covic talked about the Serbian club's financial situation and next market moves. He also referred to Facundo Campazzo's much-awaited EuroLeague debut.

Credit: Marko Metlas/Euroleague Basketball via Getty Images; ABA League j.t.d./Dragana Stjepanovic Credit Marko Metlas/Euroleague Basketball via Getty Images; ABA League j.t.d./Dragana Stjepanovic

Crvena Zvezda Belgrade president, Nebojsa Covic, spoke to the media at the press conference dedicated to the announcement of the club's new sponsorship deal with Meridian Beta, and answered questions regarding the roster.

Facundo Campazzo

Team:Crvena Zvezda mts BelgradePosition:PGAge:31Height:179 cmWeight:75 kgBirth place:Cordoba, ArgentinaProfileNewsStatistics

Facundo Campazzo's signing was the first issue brought up at the presser. The Argentinian point guard made his debut in the ABA league in Zvezda's victory over Borac Cacak. However, the Serbian team cannot register the player for EuroLeague games due to pending financial obligations, and Campazzo's status ahead of the game against FC Barcelona is still uncertain.

"We did everything we could, we got the player's Letter of Clearance (LOC), but there are still some misunderstandings with EuroLeague," Covic said.

"We settled our obligations to Josh Adams - some in full, some partially through an agreement. We will see if these misunderstandings will be resolved in the coming days," Red Star's president continued.

Credit Crvena Zvezda

Covic then touched on the financial aspects of Campazzo's arrival.

"There was a controversy about the money we spent for Campazzo, that it was the state's money. We announced our budget inspection, but other clubs didn't. I don't even know why you in the media don't investigate it," Covic said addressing the Serbian press.

"The figures related to Campazzo are significantly lower than those mentioned on some other players in other clubs, for example," he emphasized.

But Zvezda's president also spoke about possible new reinforcements and referred to what Josean Querejeta, Baskonia's president, told El Correo in a recent interview about Luca Vildoza.

Even though the player ended up in Crvena Zvezda, Baskonia demanded financial compensation from the Argentinian guard after his return to Europe. Querejeta said the dispute is ongoing, although the Basque club "cannot stop Vildoza from playing (with Crvena Zvezda)."

Free throws this season

76%13,9Points made:13,9Accuracy:76,5%Place in standings:10Record max:20Record min:1Most made FTs:Nemanja NedovicTeamEuroLeagueStatisticsSchedule

"In any case, the issue is being handled at court. At the time, we filed a lawsuit, and no agreement was reached after two acts of conciliation. Now, we are waiting for a trial date to be set.

Everything is clear: there is a signed contract with obvious conditions. It's not possible that you sign a contract with some conditions so that I let you go, and now, because you're not interested, you won't pay that money, which is two million euros," Querejeta stressed.

"It is also not good for the media to spread misinformation like yesterday regarding Vildoza," Covic responded.

"Zvezda has nothing to do with it, it's an issue between Vildoza and Baskonia."

"As for new signings, we'll see. Of course, I'm not going to tell you. We are working on it, we will see, [Hassan] Martin is injured for up to two months, [Nikola] Ivanovic should join the team by mid-January. Don't mention us all in the same breath, we don't have ten foreigners," Covic poignantly commented.

Zvezda's president stressed that the club's new sponsorship deal reportedly worth 1.2 million euros per season, the biggest in Serbian basketball's history, can help the club "build a good financial structure."

"The budget for this season, the first team with the coaching staff, including Campazzo and Vildoza, is 9.5 million. It's around 11 million, including the expenses for our youth team and all the rest," Covic pointed out.

Credit ABA League j.t.d./Dragana Stjepanovic

The Serbian businessman also spoke about the problems the club is facing.

"Campazzo and Vildoza are two top players, two NBA players, and we managed to bring them back [to Europe]. We are becoming more competitive. We climbed and came close to the top where the winds are blowing, but our goal is to stay there.

We should be satisfied that those players came, but I would also be satisfied if they went to other clubs. All the debts owed to the players have been settled," the 64-year-old former Belgrade mayor said.

"There is a small sum pending, but it will be paid out on Wednesday or Thursday."

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