S. Francisco has transferred to Panathinaikos in Athens, securing a three-season deal valued at 10.7 million euros. This move comes despite S.
Francisco having initially signed a contract with ASVEL that stipulated an annual salary approaching 5 million euros. The primary catalyst for the transfer appears to be significant financial instability at ASVEL. Reports indicate that the club’s financial projections were substantially revised when submitting documentation to French league authorities.
While ASVEL had initially planned to secure a budget of 59 million euros, the confirmed amount was reduced to only 24 million euros. Facing these discrepancies and concerns over the unfulfilled commitments made by the club’s president and future head coach, Tony Parker, S. Francisco reportedly established a condition: the club must guarantee the full payment of his salary, or he would depart.
Consequently, the player finalized his exit. In related club developments, ASVEL is also reportedly preparing to release center Daniel Theis, following ongoing negotiations involving the player and a team in Tel Aviv. The financial shortfall at ASVEL has thus prompted key player movements, marking a notable shift in the club’s roster structure despite the initial high-value agreements.
Topics: #asvel #million #euros
