AS Monaco Basketsanctioned by the French League (LNB) in August for failing to ensure financial transparency and fairness, has had its sanction upheld on appeal by the French Federation, the club told AFP on Thursday.

According to a source close to the case, the sanction, handed down at the end of August by the French National Basketball League, related to an image rights contract signed by the club with its American star Mike James. Contacted by AFP, Monaco said it was assessing “possible scenarios for making further representations to the CNOSF” over the next two weeks, confirming information published on Wednesday in several specialist media.

Because of the Principality’s advantageous tax status, the club pays the LNB a “Luxury TaxThe “Luxury Tax” is proportional to the club’s wage bill, to ensure fairness with other teams in the French championship. However, the image contract in question would make it possible to circumvent this regulation by artificially reducing the club’s payroll, and therefore the amount of the “Luxury Tax”.

Roca Ream was fined 20,000 euros, withdrew one victory from the standings for the current Elite season, and had one victory suspended. Roca Ream subsequently appealed against this decision, but the appeal did not have suspensive effect.

ASM Basket therefore remains in 6th place, with five wins and two defeats in eight matches. Monaco are also involved in the Euroleague, where they face Basque side Vitoria on Thursday evening.