Huge luxury tax pushes Monaco for two separate teams in EuroLeague and France / News - Basketnews.com

AS Monaco could potentially be required to pay nearly 2 million euros in the upcoming French league season if the luxury tax is implemented.

Credit: IMAGO/PanoramiC - Scanpix Credit IMAGO/PanoramiC - Scanpix

AS Monaco are strongly considering the possibility of putting their B Team for French League (LNB) games due to the potential implementation of the luxury tax, sources tell BasketNews.

Points this season

46%82,3Points made:82,3Accuracy:46,2%Place in standings:8Record max:102Record min:62Best scorer:Mike JamesTeamEuroLeagueStatisticsSchedule

LNB plans to introduce a luxury tax that will take effect starting from the 2023-24 season, targeting exclusively the Monagasque club, which reached the EuroLeague Final Four this season.

According to the LNB proposal, clubs that spend over 8.5 million euros on players' and coaches' gross salaries would be subject to taxation. Each additional euro spent under the luxury tax proposal would be taxed between 70 and 80 cents.

For comparison, based on the commitments to players and financial projections for the upcoming season, Monaco would be required to pay nearly 2 million euros extra, an amount roughly equivalent to Mike James' contract with Monaco.

If AS Monaco exceeded a salary budget of 12 million euros to improve the team for another ambitious EuroLeague campaign, they would have to pay additional 2.5 million euros.

For the 2022-23 season, AS Monaco allocated 10.7 million euros for salaries.

In contrast, LNB earned less than 3 million euros solely from commercial contracts this season, according to BasketNews sources.

Additionally, the extra millions, which AS Monaco would most likely have to compensate from the owners' pockets,could potentially result in EuroLeague sanctions under the Financial Fair Play regulations if the owners' financial involvement in the club's budget exceeds 50%.

Due to these circumstances, Monaco seriously considers using their main lineup solely for the EuroLeague while forming a team collected of young local players for the French championship.

This team would be composed of the core of the French youth championship team, which consists of basketball players up to 21 years old.

The voting on the luxury tax is scheduled for the 6th of June.

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