Virtus to reportedly significantly decrease budget for upcoming season / News - Basketnews.com

The total budget would be decreased by around €6 million to around €24-25 million, €16 million of which would be for player salaries, to account for EuroLeague Bylaws which state that players' salaries must command no more than 65% of the total budget and a single shareholder can bring in no more than 50% of the total budget.

Credit: Regina Hoffmann / Contributor, Getty Images Credit Regina Hoffmann / Contributor, Getty Images

After their first season in the EuroLeague after a 15-year break, Virtus Segafredo Bologna are about to make changes to their budget to fit within the competition's regulations.

Free throws this season

79%14,5Points made:14,5Accuracy:79,2%Place in standings:6Record max:27Record min:7Most made FTs:Tornike ShengeliaTeamEuroLeagueStatisticsSchedule

According to Luca Aquino from the Italian newspaper Il Corriere di Bologna, the organization is planning to make a €6 million cut in the upcoming year.

This comes from the regulations in EuroLeague bylaws that currently state that no more than 65% of the total budget can be allocated to player salaries, including image rights, compensation for early terminations, bonuses, etc.

At the same time, no more than 50% of the organization's budget can be contributed by a single shareholder, shrinking from 55% in the 2021-22 EuroLeague season.

With Virtus already planning to play in the EuroLeague, although nothing's been officialized so far, the budget would be decreased to €24-25 million with €16 million remaining for player salaries.

Virtus played in the 2022-23 EuroLeague as the champions of the EuroCup. They would compete in the next season's tournament as a wild card if they are selected.

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