Lithuanian champions Zalgiris could be have a much more secure financial backing than it was expected. PrivatBank, the largest commercial bank in Ukraine, is getting closer to becoming the main sponsor of Kaunas side.
According to various media reports, PrivatBank is willing to support Zalgiris by 10 million euros over a three-year period. This would not only make the club financially secure but would also help to pay the debts of around 6 million euros.
One of the main conditions requested by PrivatBank is for Zalgiris to leave VTB United League which is sponsored by VTB Bank, a competitor of PrivatBank.
However, according to Zalgiris GM Paulius Motiejunas, the club is seriously thinking about leaving VTB League due to its packed schedule that pays little consideration to other tournaments. One of the most criticised point of the last season was the schedule of the playoffs that made the teams play four games in five days, including long travels between the games.
Zalgiris had little time for training due to the participation in VTB League last season. Next season the team is supposed to have more young players. Therefore, training becomes eve more important as it lets the players progress.
PrivatBank is also the main sponsor of Ukrainian champions Budivelnyk, who will be making their Euroleague debut next season after receiving a wild card. The club is managed by a former Zalgiris GM Gediminas Navikauskas.
One of the owners of PrivatBank Ihor Kolomoyskyi was interested in sponsoring Zalgiris a few years ago before Vladimir Romanov took over the club. However, a series of negative articles towards Kolomoyskyi appeared at the time that made him retreat back then.
The deal between Zalgiris and PrivatBank is reportedly close to finalisation.
