Italian Authorities Seize 41 Million Euros in Assets from Monaco Basketball Club President

Italian authorities have confiscated assets worth 41 million euros belonging to Alexey Fedorychev, the Russian-born president of Monaco's Roca Team basketball club, according to a report from Corriere Fiorentino. The seized assets, including the historic Torre Del Gallo castle, come as Fedorychev faces corruption charges in Ukraine. The businessman, who holds a Hungarian passport and resides in Monaco, has been involved in several international legal issues since taking control of the club in January 2022.

The operation, conducted by the financial police in Florence and coordinated with the Ukrainian prosecutor's office, targets multiple real estate holdings of Fedorychev. His company, FedCom, is the primary investor in the Roca Team and also a key partner of the AS Monaco football club, operating primarily in the fertilizers and chemicals sector. Additionally, a subsidiary of FedCom, FedCom Media, has encountered financial challenges, notably with settling debts with LNB rival LDLC Asvel.

Despite these financial and legal challenges, the Roca Team has made significant strides in strengthening its lineup, securing key players like superstar Mike James and Greek international Nick Calathes. The club's management has announced plans to present a balanced account by September 15, signaling a robust recovery from previous financial difficulties.