Tony Parker keeps ASVEL stake as expansion is delayed

Tony Parker has reaffirmed his long-term commitment to ASVEL after the club’s planned financial expansion was blocked by French basketball’s financial regulator. The former France and San Antonio Spurs point guard, who is both president and coach, said he would continue as a shareholder regardless of how future investment discussions develop.

ASVEL will work with a budget of €24 million, an increase of €6 million from last season and the largest budget in France. The club had initially targeted €59 million through financing from a Malaysian fund, but the DNCCG did not approve the arrangement. Parker said the project was ready but could not be completed within the required timeframe, leaving the larger plan postponed by a year.

The immediate consequence is a more limited expansion than ASVEL had prepared for, although the club still expects to field a competitive team capable of challenging for trophies. Parker also confirmed that discussions with investment funds are continuing, while details remain confidential. His decision to retain his stake keeps him tied to the club’s long-term direction.

ASVEL will focus on the season ahead and its EuroLeague campaign as talks continue between the NBA and EuroLeague over a possible NBA Europe project. Parker said he hoped those discussions would produce an agreement and maintained that he wanted to serve as a link between the two organisations.