By Eurohoops team / info@eurohoops.net
CSKA Moscow President Andrey Vatutin spoke through Instagram about the financial impact of the coronavirus pandemic to the team, calculating the total loss of the club for the season, as well as the future of the team’s sponsorship deals.
“All clubs now lack a profitable part, since no one sells tickets, broadcasting rights. We sell souvenirs at a minimum (price). Today, our expenses are salaries for employees”, Vatutin told, as adapted by RBK-Sport.
“All Euroleague clubs do not pay salaries to their basketball players and coaches since negotiations have been held for several weeks between the players’ union and the tournament management to find a solution. Everyone understands that no one can count on 100% payments. Until consensus is reached, there will be no payout”, he mentioned.
Vatutin then addressed the team’s sponsorship deals and how they have also been affected. “The Norilsk Nickel company, in addition to sponsorship, is the owner of the club. And in all times of crisis, we found a common language with them. As for the other sponsors, I think that this season all their obligations will be fulfilled. It’s difficult to predict for the next season”.
“We have many years of successful cooperation with Aeroflot. You realize what difficulties Aeroflot faced, and, of course, I want to be optimistic about continuing relations with the airline. But I am always a realist and I understand that it will be difficult for them to do this. So this season we will last and there will be enough money. I think the club’s losses this season reached 450 million rubles (~5,5M euros), and what will happen next is almost impossible to predict”, added Vatutin.