Valencia's budget for 2023-24 season revealed / News - Basketnews.com

Valencia saw an increase of 1.6 million euros in their budget, with the men's team getting an additional million. Around 7 million euros are set to be spent on male players' net salaries this season, with the total budget reaching 18 million euros.

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

The Valencia Basket organization held a shareholders meeting on December 1st, where the accounts for the 2022-23 season and the budget for the 2023-24 season were approved.

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Last year, the club spent €23,815,000 for both professional teams, men's and women's, €14,791,000 of which were collected from the club's patrons. This year, the organization announced an increased budget of €25,400,000, 17,070,000 euros of which coming from patrons.

The men's team has a budget of €18,050,000 for all expenses, including traveling expenses, coaching staff salaries, administration, and players' salaries. Over €7 million will be spent in net salaries for the players, the club notes.

Last year, the men's team had a budget of €17.05 million.

The women's team, which competes in the EuroLeague as well, has a budget of €2,700,000, with a million dedicated to net player salaries.

The monetary amounts published by the club do not include the expenses related to the club's academy.

With five wins and six losses, Valencia Basket currently share 10th place in the EuroLeague standings. Meanwhile, the women's team is placed fifth in Group A of EuroLeague Women.

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