Tony Parker: Villeurbanne Project Fell Through Over Monaco Fallout
Tony Parker says tougher DNCCG scrutiny after the Monaco case stalled the Villeurbanne development project, as lawyers and guarantees ate up the time needed.
Tony Parker has said that tougher scrutiny from French club finance regulators, prompted by the Monaco case, is why the large-scale development project at Villeurbanne fell through.
"I think we are, to a large extent, paying for the consequences of the Monaco situation. The DNCCG really wanted to rule out any risk, given the scale of our project," Parker told First Team. The DNCCG is the national directorate that oversees club finances and management.
Parker said he had the approval of the investment fund to carry on with negotiations. The problem was time. "Projects like this take time, because lawyers get involved and 50,000 different tasks appear. With all the DNCCG's requirements and guarantees, we were not able to finish everything on time and carry out the project in the form we originally planned," he said.
The Monaco case is recent. On 12 September the French Basketball Federation rejected the club's bid for a place in France's third division after financial guarantees were not met. The French Olympic and Sport Committee upheld that decision on 19 September. Monaco are left with only the amateur fifth division if they are to keep any competitive status.
This may mean that other clubs seeking outside investment in France will face the same demands for guarantees. If so, the time Parker describes could become a fixed part of any deal of this size.
About this article
Prepared by the editorial team with the help of algorithms, based on the sources listed