Valencia working on a long-term deal with EuroLeague / News - Basketnews.com

Valencia are currently negotiating a longer-term deal with the EuroLeague. The club's GM revealed the team's players would cost €1.3 million less if they were taxed in Madrid.

Credit: Valencia Basket/Miguel Angel Polo Credit Valencia Basket/Miguel Angel Polo

For the second time in two years, Valencia Basket face uncertainty regarding their future in the EuroLeague. The club's general manager revealed that's not the only place where the team is disadvantaged compared to other big Spanish clubs.

3-pointers this season

33%7,4Points made:7,4Accuracy:33,3%Place in standings:17Record max:13Record min:3Most made 3FGs:Chris JonesTeamEuroLeagueStatisticsSchedule

Valencia got the chance to continue playing in the EuroLeague due to Dreamland Gran Canaria's refusal to participate in the competition, citing economic difficulties. At the moment, Valencia are on the verge of getting to the play-in tournament, with just two games remaining in the regular season.

"It's crazy to be in March and not know the competition we'll be playing in [next season]. We have, for example, a Plan B in case we have to play in the Eurocup," the club's GM, Enric Carbonell, told in an interview with Juan Carlos Villena on Radio Intereconomía Valencia.

Valencia are in the final stages of building the Roig Arena, a new venue for both the club and the local municipality that will replace La Fonteta as the permanent home of basketball in the city.

Additionally, the organization is working on acquiring a long-term commitment from the EuroLeague.

"We are working with the Euroleague so that Valencia Basket has temporary stability, whatever the name, whether it is an A license or a license for a few years. We are negotiating stability that allows us to be in the [EuroLeague for the] medium or long term," Carbonell said. "The Euroleague understands what we convey to them because it's not just a sporting problem to be pending year after year but at the level of the club model, of fans, or sponsors."

Other Spanish clubs in the EuroLeague - Real Madrid, FC Barcelona, and Baskonia Vitoria-Gasteiz - have a shareholder status in the competition. Additionally, Carbonell said, they benefit from a looser taxation system.

Namely, the Valencian Community, an autonomous region in Spain, has higher personal taxes. It causes difficulties signing and retaining players, the GM revealed.

"In the Valencian Community, we have the highest personal income tax rate of 54%, except for the first year when it's 19% if you are a non-resident and a non-community member. If not, it's 24%," he said.

"Madrid has 9 [percentage] points less in personal income tax. Our squad, playing and paying taxes in Madrid, would cost 1,300,000 euros less," Carbonell revealed. "If we renewed all the players for the next season, the difference would be greater because we have several players who are considered new [in the Valencian Community]. With Vitoria, it is about 5 or 6 points less with respect to the personal income tax, but they have about 300,000 euros exempt from taxation."

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