AS Monaco Basket, reigning French champion, declared insolvent

The end continues to draw closer on the Rock. AS Monaco basketball, the French champion club but riddled with debt, was declared insolvent and announced, Wednesday October 7, that it was taking "a break" in the hope of rebuilding itself, after its multitude of appeals this summer.

“The court of first instance has, by a judgment dated October 6, noted the state of cessation of payments” of the club, announced the Attorney General of Monaco, Stéphane Thibault, in a press release evoking “an absence of any available assets, faced with a known total liability of 27,888,305.95 euros”.

“Today is a sad day”, declared the ASM in a message to its supporters on social networks, which seems to mark the end of the adventure of the “Roca Team”. “The club will now take a break, in the hope of finding a path to restructuring and, one day, restarting the project.”

After a hellish summer, and multiple setbacks in its attempt to save its place in the professional world and then in the men's National 1 (NM1), the club had yet again tried to obtain a new reprieve during a hearing on Friday before the Monaco commercial court. He in fact filed an interim appeal before the Paris administrative court against the refusal of the French Basketball Federation to register him in NM1, ratified on September 18. A decision is expected before the end of October.

But ASM Basket must repay in particular the loan of 21.7 million euros granted by the Monegasque government – ​​via the National Finance Company (SNF) – to keep the club afloat until the end of the season. And since September, the club's 21 employees have no longer been paid.

On Friday, the Monegasque court therefore refused to wait and, after a few days of deliberation, noted the cessation of payment, provisionally setting it for July 1. The 2025 European vice-champion club, which won all four trophies at stake in France last season, seems to have given up on appealing. “The future of Monegasque men's basketball now rests in the hands of the ASM Association: its leaders, its coaches, its young players and its first team which plays in Nationale 3,” he wrote in the message to supporters.