Baskonia's Unique Financial Issues
As of right now Baskonia is standing in third on the Euro league standings. While this may not be surprising to people, it is quite eye-opening when you consider some of the financial issues the club is facing.
To begin, Baskonia is clearly not as big of a club when compared to Real Madrid or Barcelona. With that being said it should be known that the club is not in the hands of a gigantic football entity, which means the club does not have the financial capital that Madrid or Barcelona have. During and after the pandemic Baskonia was not able to recover as well as the other larger clubs. Because of this Baskonia actually closed the year, 2022, with a financial deficit of 20,000 euros, and are still trying to recover from it! This is not ideal for a Euro League team currently in third place. One would expect more.
In addition to this Baskonia faces a unique financial issue with one of their players. Luca Vildoza, professional basketball player, originally signed a contract with Baskonia. However, he later went to play in the NBA with the New York Kicks, but then returned to Euro League basketball, but not with Baskonia. Instead he plays for Red Stars. It is technically alright that Vildoza plays for another club, but he must obey the rules in his contract. In his contract it states that Vildoza must pay two million euros to Baskonia if he wishes to play for another club. At the moment this is not happening. Vildoze has not paid the money putting Baskonia into an even larger finanical issue. Baskonia is taking legal action, but don't let that ignore the issue of the clubs financial problems.
There are many question marks when it comes to Vildoza's contract. Do you think legal action should be taken against Vildoza, or do you believe its in the players right to go play for another club without paying Baskonia?
In addition to this below is another article discussing other financial issues the club had with a player. In 2016 it was reported that the club did not pay Adam Hanga's contract completely.
https://www.eurohoops.net/en/euroleague/485367/baskonia-paid-hanga-debt-complaint-revealed-media/
Sources:
https://basketnews.com/news-182884-baskonia-president-querejeta-defends-bertomeu-opens-up-on-clubs-finances-and-vildozas-case.html
https://www.eurohoops.net/en/euroleague/1403503/baskonia-threatening-legal-action-against-luca-vildoza/
I find it very interesting that clubs can get away without playing players. The financial landscape in the Euroleague varies greatly from the United Sports leagues. What are the other challenges facing players of the club
ReplyDeleteSeeing the many financial situations this club is facing I am shocked by the performance of the club. With being a smaller club, I think it is important for Baskonia to take legal action against Vildoza. Vildoza signed a contract so he should uphold his end of the deal. Though, the lack of pay from Baskonia to Hanga is important to remember when taking legal action. This lack of pay could be used against the club in court.
ReplyDeleteI agree that legal action should occur.
DeleteI don't seem to understand the severity of not following the rules of the league. In the case in 2016 for not paying their player Adam Hagna, I would imagine there would be legal implications. I find it hypocritical that they would demand money from Vildoza when they didn't fully pay Hagna. I'm curious about the financial dealings of other teams in the EuroLeague and if they run into similar issues with player's salaries. Have they settled their case with Hagna yet?
ReplyDeleteFrom what I understand they have no settled their case.
DeleteI am a proponent that Baskonia should absolutely recieve financial compensation for their player playing for a rival club. Sporting entities such as the NFL, NBA, MLB, are highly regulated in their contracts, such that players play their entirety of their contract out, or are technically in the possession of the team. Moreso the lack of funding it seems is present for a majority of Euroleague teams, i would expect even more stringent oversight, not less. Legal action should be taken to protect their financial situation, and for the blatant disregard to Euro league rules.
ReplyDeleteI find it really interesting that Vildoza has to pay Baskonia to play on another team. I have never heard of anything like this and especially for that amount of money. I also think it is crazy that they are wanting this money, but then not compensating or paying their players the money they should be getting.
ReplyDeleteIt truly is a unique situation.
DeleteI think this whole financial situation is very interesting, especially considering how well the team is doing. I would just assume if a team is doing that well, money would be flowing in, but that doesn't appear to be the case. I don't think its fair that Vildoza left and hasn't paid his dues. If you sign a contract, you know what your obligations are.
ReplyDeleteDo you think legal action should be taken then?
DeleteIt is interesting how a player can leave a team to play in another league and then return to the Euroleague to play for another team. I think that Baskonia has every right to demand that Vidoza pay them, as it is in his contract. I hope that this issue does get resolved because it could set a dangerous precedent moving forward if Vidoza does evade payment.
ReplyDeleteYes. It is interesting to think that other clubs may do something similar.
DeleteIt is definitely impressive that Baskonia is currently third in the Euro League standings despite facing financial challenges. However, it is understandable to expect more from a Euroleague team, especially when compared to larger clubs like Real Madrid or Barcelona. Regarding Luca Vildoza's contract, it is difficult to say without knowing all the details of the agreement between the player and the club. However, if the contract clearly states that Vildoza must pay 2 million euros to Baskonia if he wishes to play for another club, then he should honor the agreement. If he does not, then legal action may be necessary to enforce the terms of the contract.
ReplyDeleteI agree that Legal action should be taken.
DeleteI completely agree with the club suing the player for a breach of contract especially while breaching his contract. In the current state of the club, they need all of the monetary support they can receive making since for them to sue the player. It is still quite impressive that they have a ball team that can keep up with the powerhouse clubs with larger spending despite all of these issues.
ReplyDeleteI agree, it is quite suprising.
DeleteThis is a super interesting and unique financial situation. It is strange to me that Vildoza is even continuing to play for another team despite the situation. I do believe that legal action should be taken considering the breach of his agreement, as well as the current financial situation of the team.
ReplyDeleteThat is a very interesting situation. I think it is ridiculous that Vildoza is getting away without paying the 2 million fee when it is stated in his contract. The club should sue him for breach of contract or get him to pay up because that is unacceptable. For such a successful club currently, having financial issues is very surprising. Hopefully the club can turn it around in the near future.
ReplyDeletePersonally, I feel like I have never heard of something like the Baskonia and Vildoza situation happening. Baskonia has every right to take legal action against Vildoza since it is a massive amount that he owes to the club. I am not familiar with the legal atmosphere of the Euroleague but I am very interested to see the case plays out.
ReplyDeleteI think that this is a very interesting situation. I have never heard of a contract in sports before that forces a player to pay their former team in order to join another team. I am very interested to see how this situation unfolds once the legal action takes place.
ReplyDeleteIt must be very challenging competing with teams like Real Madrid and Barcelona. Baskonia does not have anything close to the amount of capital that these teams have, so they cannot have as nice of a stadium or sign the top players. I wonder if players prefer to play for big names like Real Madrid or smaller clubs like Baskonia? Do they get better endorsements by playing for bigger teams?
ReplyDeleteIt sucks to see how detrimental Covid was to so many teams in the Euroleague. Being a smaller club, Baskonia being able to recover is pretty impressive. I think it is a little bit extreme that Valdoza would have to pay 2 million euros just to play for a different club.
ReplyDeleteI think Baskonia's financial struggles are concerning, especially for a team currently standing in third place in the Euro league standings. The club's lack of financial capital compared to larger clubs like Real Madrid or Barcelona is evident, and their struggles to recover from the pandemic. The unique financial issue with Luca Vildoza, who must pay two million euros to Baskonia if he wishes to play for another club, is also adding to the club's financial difficulties, and it will be interesting to see how legal action will play out in this case.
ReplyDelete