AS Monaco GM Oleksiy Yefimov outlined his team’s plans to secure a long-term presence in the EuroLeague while strengthening their infrastructure through the development of a new arena.
AS Monaco has entered its fourth season in the EuroLeague. During this four-year stretch, Monaco has become one of the most successful teams in the competition, making the playoffs all three seasons and the Final Four in 2023. They are looking great this season as well, and are willing to return to the Final Four after a one-year absence.
Monaco's GM Oleksiy Yefimov talked to Greek media outlet Sport24.gr about their future and new upcoming plans. He confirmed they would like to secure a long-term agreement with the EuroLeague, saying they would like to solidify themselves even more in Europe's premier competition.
"Our primary focus remains on the EuroLeague, and we are committed to securing a long-term presence in the competition, including plans to acquire a multi-year license," Yefimov said in the interview with Sports24.gr.
For now, Monaco's goal is clear: to strengthen their position in the EuroLeague, even though they're aware of the NBA's potential plans in Europe.
"While we are aware of discussions regarding new leagues, our efforts are concentrated on strengthening our position within the EuroLeague framework," he said.
"At the same time, our goal is clear: to elevate the Roca Team to a level that attracts interest from all quarters, whether from potential investors or various leagues," GM added.
Talking about the immediate future, Yefimov continued about them securing a guaranteed spot in the EuroLeague long-term and building a better infrastructure with a new arena in plans.
"We aim to continue our upward trajectory by solidifying our position in the EuroLeague and enhancing our infrastructure," Yefimov said.
"The development of the new arena is a significant milestone that will provide a superior experience and elevate the project to an entirely new dimension. The venue, owned by the organization, is a sustainable revenue stream, reflecting our commitment to long-term growth and prominence in European basketball."
Yefimov believes building a new arena is a key cornerstone of their long-term strategy.
"We have publicly expressed that our vision is clear: we view our basketball project not as an end goal but as an ambassador into the entertainment and real estate sectors," Yefimov noted.
"Therefore, developing a new venue is a cornerstone of this strategy. I intentionally use the term 'venue' rather than 'arena' because we aim to create a multifunctional facility with diverse revenue streams, generating profit on a daily basis. This initiative seeks to offer a state-of-the-art experience and positively impact the Principality’s cultural and economic landscape," he explained.
"Constructing a new arena within Monaco presents spatial challenges due to limited available land," he added. "However, the Principality is renowned for implementing innovative solutions to overcome such constraints, and we are confident in our ability to bring this project to fruition."
"Our primary goal is to develop a sustainable project within the Principality, as such a venue would significantly benefit Monaco's economy. Nonetheless, we are also evaluating alternative sites and proposals, especially considering the Cote d'Azur’s need for a modern facility to host the upcoming 2030 Olympics. That said, the Roca Team was born in Monaco and embodies Monegasque heart and soul, so our main focus remains creating an exceptional venue that will benefit the State of Monaco."
Monaco's GM was asked whether he takes some inspiration from the newly renovated OAKA in Athens or the newly built SAP Garden in Munich. He praised the work those markets have done.
"First and foremost, hats off to Panathinaikos for their incredible efforts on the OAKA renovation," he praised the efforts renovating OAKA.
"The work done by Dimitris Giannakopoulos and his team is truly inspiring and demonstrates how a basketball project can become financially sustainable and profitable through arena ownership."
"Similarly, Munich’s new arena, with its innovative and exclusive features, sets new standards as a business and event location," he added.
Although, Yefimov said Monaco's project isn't solely based on basketball or sports.
"Our project isn’t just about building another sports venue – it’s about creating a top-tier entertainment hub that truly reflects the global identity of the Principality," Monaco's GM explained.
"We’re genuinely excited about the interest and enthusiasm around this project. Considering the scale and impact of this ambitious real estate development, we’re exploring opportunities to bring on board strategic partners who can add real value and share our vision."
"Our aim is to build a landmark destination that not only elevates the sports and entertainment scene but also fits perfectly with the region’s high-end market expectations," Yefimov said.
Monaco's GM was also asked to comment on rumors surrounding NBA players wanting to invest in Monaco, and whether there is any connection between this project and AS Monaco Basket.
Yefimov said while they have received some interest from them, they are not engaged in these talks.
"While AS Monaco has recently attracted interest from several investment funds and private individuals, we are not currently engaged in discussions with a consortium of NBA players regarding investment in the club," Yefimov stated.
"Over the past four months, we’ve held meetings with various entrepreneurs, including some based in the U.S., who have been drawn to our project. Notably, several of these discussions took place during the NBA Paris Game, which may have sparked the rumors you’ve heard," he said.
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