Crvena zvezda / Red Star

[Carick235]

Thread for Red Star Belgrade>

Logo_czvezda.jpg

Some good news, Red Star has reduced debt from 18 million to 800 thousand euros in just one year under Nebojša Čović, after the merger of FMP (his club) and Red Star under one system. Club is currently in reorganization, that will last 5 years, because all club accounts were blocked because of huge debts.

In first season after his takeover club played two finals, Serbian cup and league (defeated by Partizan in both), and somehow got a place in the Eurocup for next season.

But there's problem with Svetislav Pešić, who may leave the club this summer, everything will be clear in the next few days.


Only player that for now left the club is Nemanja Nedović, who moved to Lietuvos Rytas, and club earned 500k euros from that transfer.

[serbianhoops]

@Carick235, You should change your thread's title! Crvena Zvezda Belgrade sounds better because legally Crvena Zvezda didn't exist anymore.

The club was founded on March 4, 1945 and won 15 national titles, 5 national cups & also 1 european cup but since August 12, 2011, all its assets and funds are legally frozen until the club is restored in good standing or legally dissolved.

From this date, Crvena Zvezda Belgrade (not Crvena Zvezda only) is purely and simply the result of a name change of Nebojsa Covic's hoops team FMP Zeleznik.

[Carick235]

@Carick235, You should change your thread's title! Crvena Zvezda Belgrade sounds better because legally Crvena Zvezda didn't exist anymore.

The club was founded on March 4, 1945 and won 15 national titles, 5 national cups & also 1 european cup but since August 12, 2011, all its assets and funds are legally frozen until the club is restored in good standing or legally dissolved.

From this date, Crvena Zvezda Belgrade (not Crvena Zvezda only) is purely and simply the result of a name change of Nebojsa Covic's hoops team FMP Zeleznik.

Ok your obviosly Partizan fan.

Here's one news for you, if you dont know some basic things when it comes to clubs reorganisation, than better dont talk.
http://www.sportal.rs/news.php?news=77788

All accounts of Red Star (original and only Red Star) are unblocked (they were blocked from 2004) by court from 3 july, official. Which means original club is back in track and it was not dissolved as all Partizan fans wanted, and its accounts are not frozen anymore. This short period where Red Star will play as Crvena zvezda Beograd, which is same, with same club colors, same crest, same fans, it had to happen if we wanted to restore club and get rid of all debts, and at the same time stay in the top league.

I see only Partizan fans bashing Red Star for no reason, while only good things happening for this club in last year.

[serbianhoops]

First of all, I'm not a Partizan fan.

Secondly, you seems to be the one who don't know basics of bankruptcy and the current organisation of Crvena Zvezda Belgrade.

On August 12, 2012, at the constituency meeting of the new club named "Crvena Zvezda Belgrade", founder members appointed Nebojsa Covic as chairman & Zivorad Andjelkovic as president of the club assembly.

It was decided that Crvena Zvezda and FMP will not merge.

It was determined that Crvena Zvezda has a debt of 13 millions € (later with the appearance of new creditors, the debt was re-evaluated to 18 millions €)

Assembly members also agreed that Crvena Zvezda will give its players & allow the new club to use Crvena Zvezda's trademark name for 5 years while Crvena Zvezda will receive an undisclosed amounts of money as compensation in order to pay off its debt.

During the last season, Crvena Zvezda's debt has been reduced to 800.000 € which allow to unblock Crvena Zvezda's accounts.

The debt has been reduced in various ways. Several creditors agreed to erase all or portion of the debt (among those Keselj, Pesic or buisnessman Beko who was in the possession of Crvena Zvezda's trademark logo) and as you mentioned, the transfert of Nemanja Nedovic bring in 500.000 €.

All in all, till the end of the 5 year period (4 years remaining), the real Crvena Zvezda will not be allowed to compete. And the biggest question in abeyance is, at which level will the club be allowed to compete at that time ?

[Carick235]

All in all, till the end of the 5 year period (4 years remaining), the real Crvena Zvezda will not be allowed to compete. And the biggest question in abeyance is, at which level will the club be allowed to compete at that time ?

Original club will just continue where current one finish, thats nothing new, its all same club just for legal reasons theres this modification so club can compete during reorganisation, same happened to many clubs, and btw you didnt said anything i didnt know and said. Club could choose, as Čović said, different path, and start from bottom league with original club, but if you can avoid such thing, why not do it. I can mention dozen of same legal tricks by biggest clubs in Europe in football or basketball to get rid of debts and stay at the high level, anyway if this all go well and old club get recovered in 4 years (its recovered in every way now, but i think legally), nobody will look at this as something bad, but opposite.

[serbianhoops]

You've got it wrong, it's the other way round. Despite your biased beliefs, it's not the same club. The original Crvena Zvezda (whose club registration number was 04010) will likely never be relaunched, while the current Crvena Zvezda Belgrade (whose is registered under FMP's number 04009) will likely continue to exist at the end of that so-called reorganization period.

Covic & people behind him (mostly politicians & criminals) aren't beginners. They reach their goal & they will ensure, by all means necessary, the continued existence of their project.

As for me, a Crvena Zvezda fan since my childhood, my favorite club didn't exist since August 12, 2011 & the current club is just another fake project such as Vojvodina Srbijagas Novi Sad which is trying for years to supersede the real Vojvodina Novi Sad which plays in the second division.

[Carick235]

You've got it wrong, it's the other way round. Despite your biased beliefs, it's not the same club. The original Crvena Zvezda (whose club registration number was 04010) will likely never be relaunched, while the current Crvena Zvezda Belgrade (whose is registered under FMP's number 04009) will likely continue to exist at the end of that so-called reorganization period.

Covic & people behind him (mostly politicians & criminals) aren't beginners. They reach their goal & they will ensure, by all means necessary, the continued existence of their project.

As for me, a Crvena Zvezda fan since my childhood, my favorite club didn't exist since August 12, 2011 & the current club is just another fake project such as Vojvodina Srbijagas Novi Sad which is trying for years to supersede the real Vojvodina Novi Sad which plays in the second division.

Ok man, theres strict law they must follow in reorganisation, so old club will continue when that 4 years left period is over. And as i said for me this is all same club, althought i know its not legally, and this was just the way to get rid of the debts and put old club back on track.

You can call him criminal and i dont care what hes doing out of basketball, but currently hes doing great things for club, so discussion on that is over. I dont have any biased beliefs when it comes to this ,take care.

[Joško Poljak Fan]

I've read something like Pešić has demands from Čović in order to stay in Zvezda, as far as I understood from organisational and financial point of view. Were there any specific demands in Serbian media regarding that?

[Carick235]

I've read something like Pešić has demands from Čović in order to stay in Zvezda, as far as I understood from organisational and financial point of view. Were there any specific demands in Serbian media regarding that?

Club owes him 4 salaries, and i really don't understand why Pešić had to do it this way, to demand money over FIBA arbitration commission, and he did that after he went to Germany, and club after several days received this request from his lawyer. He already earned big money in Red Star, and now making trouble because of this 4 that would be paid soon, Čović said that this salaries would be paid in august, it's not like he will end up homeless tomorrow. Anyway Pešić is not indispensable, and although he is great coach there's other good ones also.

[serbianhoops]

If Pesic has problem with late payment of wages, he should ask Dragan Djilas, the one who pays his salary through state sponsorship.

[Carick235]

If Pesic has problem with late payment of wages, he should ask Dragan Djilas, the one who pays his salary through state sponsorship.

That's just pure nonsense, first city money currently don't make even 10% of Red Star budget, and second, there is big difference between state and city funding, because here in Serbia all clubs in every sport are financed by their cities and municipalities in a certain percentage (percentage depends if club have some strong sponsors or funder).

Better talk how previous people who ran the club made this debts, lost the club emblem, althought they had much more money available. So i cant see why your attacking Čović.

[serbianhoops]

I'm not attacking Nebojsa Covic, I'm only telling the truth. Dragan Djilas who is mayor of Belgrade & president of the Basketball Federation of Serbia, requested several of his friends who runs states companies to sponsor Crvena Zvezda (among others mt:s & Aerodrom Nikola Tesla AD Beograd) & Pesic was paid with that money. Covic mentionned it several times, his invested capital in Crvena Zvezda Belgrade project was the same amount he used to invest in FMP. A far smaller amount than current Crvena Zvezda Belgrade's budget.

[Carick235]

I'm not attacking Nebojsa Covic, I'm only telling the truth. Dragan Djilas who is mayor of Belgrade & president of the Basketball Federation of Serbia, requested several of his friends who runs states companies to sponsor Crvena Zvezda (among others mt:s & Aerodrom Nikola Tesla AD Beograd) & Pesic was paid with that money. Covic mentionned it several times, his invested capital in Crvena Zvezda Belgrade project was the same amount he used to invest in FMP. A far smaller amount than current Crvena Zvezda Belgrade's budget.

Yes Aerodrom and MTS are sponsors, but they are also of Partizan >m:ts< for example, and Telekom Srbija is using very good chance to be promoted through sport and especially over two biggest clubs, and thats why they are the leaders in that area in Serbia and are most successful state company. Problem is when companies like EPS start sending thousands of euros for some clubs, company which has debts and which does not need promotion because its monopolist.

Why dont you talk of all private companies who have become sponsors, and for example ones like Lukoil turned Red Star debts toward them in donation for club, and it was over million euros.

[Carick235]

Red Star has paid everything to Pešić, now it's up to him.

[AmonRA]

Red Star has paid everything to Pešić, now it's up to him.

yes, everything except last 2 salaries(it will pay off until the end of august)