By John Askounis/ info@eurohoops.net
CSKA Moscow president, Andrey Vatutin, shared his financial view on recent Turkish Airlines EuroLeague developments, per Russian outlet Sportrbc. He noted the danger of not being able to meet obligations towards sponsors and furthered on potential financial issues regarding the Russian club.
“This is an unprecedented situation and forces major moves,” he noted on the coronavirus pandemic impact on EuroLeague, “So far, the season has been suspended, not canceled. It’s not just about tickets and season tickets sold. If the season ends prematurely or remains suspended, we will not be able to fulfill our obligations to sponsors in terms of advertising obligations and broadcasts of home games. This can be a big problem.”
Other effects include the decreasing value of the Russian ruble, which is a key for CSKA since all contracts of imported players and coaches involve currency rates. “We hope that the situation stabilizes to avoid major budget adjustments,” he said, “Fortunately, the owner of our club, Nornickel has always been and remains a reliable partner. I am sure will get full support.”
“One way or another, we will keep on finding more options for the future,” Vatutin added on the future transfer market moves.
Apart from EuroLeague, CSKA also competes in the VTB United League, which is among the few European competitions that remain active. However, the coronavirus might also bring the VTB action to a halt in the near future.