Former Limoges president ordered to pay huge compensation to the club / News - Basketnews.com

President of Limoges CSP between 2018 and 2019, Youri Verieras was ordered to pay 362,000 euros to the club due to several management errors.

Credit: SLUC Nancy Credit SLUC Nancy

The Limoges commercial court has ordered the former president of CSP Limoges, Youri Verieras, to pay 362,000 euros to the club, Le Populaire reports.

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Youri Verieras was Limoges' president from February 2018 to May 2019, following the death of Frederic Forte. He is now the Managing Director of SLUC Nancy.

The court accuses him of anomalies in the extension of the contract of coach Francois Peronnet and in the departure of sports director Olivier Bourgain. Le Populaire recalls that “the departure of Francois Peronnet cost Limoges more than 290,000 euros," while Bourgain received compensation of 120,000 euros net.

A little less than two years after the club took over, shortly before the end of the 2018-2019 season, the new management of Limoges CSP decided to take the former management team to court. Proceedings were launched before the Limoges commercial court, according to an audit carried out internally that showed a significant deficit. As such, the new management was claiming more than 400,000 euros in damages.

Now, the Limoges commercial court has reached its first verdict. Verieras, 30, has been accused of contributing to widening the club's financial gap. Per the report, on June 30, 2018, the surplus of CSP Limoges exceeded 1,250,000 euros, while the deficit skyrocketed to more than 800,000 euros the following year.

Youri Verieras still has the possibility of appealing the decision rendered by the court.

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