Zalgiris receive another 'no' in search of financial support to host Final Four / News - Basketnews.com

Vilnius municipality declined to provide financial support for Zalgiris Kaunas' attempt to host the 2023 EuroLeague Final Four.

Credit: E.Ovčarenko, Ž.Gedvila/BNS Credit E.Ovčarenko, Ž.Gedvila/BNS

Zalgiris Kaunas, the main candidate to host the 2023 EuroLeague Final Four, won't receive additional financial support.

3-pointers this season

38%9,2Points made:9,2Accuracy:37,7%Place in standings:8Record max:16Record min:3Most made 3FGs:Keenan EvansTeamEuroLeagueStatisticsSchedule

According to BasketNews information, Vilnius municipality also didn't agree to provide additional funds and help Kaunas organize EuroLeague's main event.

So far, only Kaunas municipality supports Zalgiris in an attempt to bring the Final Four to Lithuania.

Zalgiris GM and president Paulius Motiejunas was looking for an extra €1 million, so Zalgiris project's budget would reach the minimum amount that EuroLeague asks for.

Earlier, the Lithuanian government also declined to provide funding for the project. Motiejunas approached the Lithuanian government and Vilnius municipality as the main beneficiaries of the Final Four if Lithuania would be given an opportunity to host it.

"Talking about business representatives, it's difficult to convince them because for the business, you have to sell something," Motiejunas told BasketNews. "We can't offer advertising rights or tickets because EuroLeague sells it. We have nothing to offer."

"It would be possible to benefit through hotels and restaurants since all the paid taxes would go directly into Lithuania's budget. For us, it was the only way to raise more money," he added.

Vilnius municipality responded to Zalgiris that according to laws, the municipality can't provide funding for charity or aid purposes. It was also highlighted that non-governmental organizations could receive financial support only if a specific contest is being held.

"Just like we explained earlier, it's a really profitable event," Motiejunas continued. "I'm disappointed that we can't organize events that pay off. We can't find a common language that by using sports and tourism, we could strengthen our country's budget."

Zalgiris Kaunas / Schedule

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"Maybe we need more experience and try harder. We understand the decision and continue working," Motiejunas added.

In the Final Four project's presentation, Zalgiris highlighted a few main aspects:

According to previous Final Fours data, ticket revenue is expected to reach €4 million. Although this money would go to EuroLeague, Lithuania would receive about €600 thousand in VAT. VAT would apply not only to the tickets but also hotels, restaurants, and other places. It is expected that Lithuania would receive around €500 thousand from these areas. In total, Lithuania's budget would receive a €1.1 million addition. EuroLeague organizes the Final Four. It means that all the revenue from tickets would go to EuroLeague, not to Zalgiris or the Zalgirio Arena.

As BasketNews reported on Tuesday, Zalgiris remain the main candidate to host 2023 Final Four.

Zalgiris fans led the EuroLeague in attendance from 2017 to 2020. The club already played 2 of their 3 EuroLeague home games this year with a sell-out crowd. The Lithuanian powerhouse also sold out the upcoming game againstEA7 Emporio Armani Milan.

Also, Kaunas has the most modern arena in the competition. The second biggest city in Lithuania successfully hosted the final stage of the 2011 EuroBasket.

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