According to a report by Italian publication Corriere Fiorentino, Italian authorities have seized assets worth 41 million euros from Alexey Fedorychev, the president of the Roca Team, amid corruption accusations in Ukraine. The Russian-born businessman, who holds a Hungarian passport and resides in the Principality, took over the Monaco basketball club in January 2022 and has since faced multiple legal proceedings abroad.
The seizure, carried out by the financial police in Florence in coordination with the Ukrainian prosecutor’s office, includes several of Fedorychev’s real estate assets, such as the 12th-century Torre Del Gallo castle.
Fedorychev heads FedCom, the majority shareholder of the Roca Team and heritage partner of the AS Monaco football club, specialising in fertilisers and chemicals.
Further complicating matters, FedCom Media, a subsidiary of FedCom and the former parent company of broadcaster Skweek, has struggled to settle debts, particularly with LNB rival side LDLC Asvel. Despite ending last season with a multi-million euro deficit, Monaco has since paid off several obligations, including a luxury tax to the LNB and commitments to the Euroleague.
Nevertheless, the club has managed significant player acquisitions, such as extending superstar Mike James’s contract for three years at 8 million euros and signing Greek international point guard Nick Calathes.
Roca Team management remains confident, stating, “We will present on September 15 accounts without the slightest deficit.”
Featured image: Alexey Fedorychev
