The French Basketball Federation announced the exclusion of Monaco Club, the current French league champion, from participating in next season's competitions, in a shocking decision that puts the club's future at stake amid a suffocating financial crisis.
The French Federation confirmed that the Appeals Chamber rejected Monaco's appeal to remain in the French First Division League, and the ban also includes participation in any LNB leagues, including the second division.
The Emirate's team now faces a single option for survival, which is to submit a final appeal before the French National Olympic and Sports Committee, which the club is still carefully studying in light of the complexities of the current financial situation.
Monaco had appealed the initial decision on July 20 last, before the Appeals Chamber granted it a deadline until July 31 to submit the required documents, but the club failed to submit them within the specified deadline, which led to the confirmation of the exclusion decision.
Despite winning the local title, Monaco suffered from acute financial problems that led to its exit from the EuroLeague and return to the EuroCup, the second continental competition, as well as the departure of most of its prominent stars such as Mike James, Alpha Diallo, and Elie Okobo.
The team, owned by Russian businessman Alexey Fedorichev, was subjected to multiple financial penalties during the past season due to non-payment of salaries to players and staff, and a ban on transfers was imposed on it, which prompted the Emirate of Monaco to intervene directly to manage the team and prevent its complete collapse.
The crisis reached its peak when the team's stars, led by Mike James who transferred to Dubai Basketball, decided to stay away from the club during the past two and a half months in protest against not receiving their financial dues, before James returned to participate in the fifth and final match of the league finals in which Monaco was crowned champion at the expense of Paris Saint-Germain.