Crvena Zvezda's budget for the 2023-24 season revealed / News - Basketnews.com

Nebojsa Covic, Crvena Zvezda Meridianbet Belgrade's president, revealed the team's budget for the 2023-24 season.

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

Crvena Zvezda Meridianbet Belgrade's budget for the 2023-24 season was revealed by Nebojsa Covic, the club's president, in an interview with TV Prva.

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"The budget of Crvena Zvezda is 15,777,062 euros. Let's say, around 15,800,000 euros," stated Covic.

"According to EuroLeague financial fair play, player expenses cannot exceed 65% of the budget. This means that the cost for the players is somewhere around 10.2 million, more precisely 10,192,738 euros," he then said, talking specifically about the players' salaries.

"This is the budget for the 2023/24 season. Of course, the budget is subject to change if there are some arrivals or departures," he explained.

Covic later took a jab at last year when Facundo Campazzo joined the Serbian team but was not allowed to play for a substantial amount of time due to Zvezda's violation of certain financial fair play rules.

"Crvena Zvezda respects this [EuroLeague Financial Fair Play], and we hope others do too," Covic said. "We were under surveillance last year, where our neighbors [Partizan Mozzart Bet Belgrade] worked tirelessly to prevent [Facundo Campazzo] from playing," he said blaming Partizan.

The president also commented on Partizan's economic situation, calling on to the EuroLeague to scrutinize the black-and-white team's debt to the Serbian state.

Right now, Crvena Zvezda sits at the 14th ranking with 5 wins and 9 losses in the EuroLeague.

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