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EuroLeague rejects Panathinaikos’ request to transfer its license

the6man Jun 22

Photo: EuroLeague basketball

The EuroLeague board was held on Monday to discuss various questions about the future of the league. They also discussed Panathinaikos’ request to transfer his license to another European competition.

The Greek club’s application was rejected, stating that the club gave no guarantee that it would meet all related obligations towards the other ten licensed clubs and the Euroleague.

The EuroCup lineup 2020-21 was also a topic of discussion and it was decided that Dolomiti Energia Trento will replace the Fraport Skyliners as they withdraw.

The official declaration of the EuroLeague:

The Euroleague Commercial Assets Shareholder Board met remotely on Monday, June 22, to discuss proposals to be presented at the upcoming ECA General Meeting in July.

The board continued with:

  • Approve the financial completion of the 2019-20 Euroleague basketball, reducing the distribution of business clubs by 14% compared to the pre-season forecast, despite total revenue following the cancellation of the season due to the global COVID-19 pandemic of 30% have dropped. The amount distributed to the EuroLeague and EuroCup clubs corresponds to 100% of the forecast market pool distribution and 100% of the forecast sports pool distribution for the games played until March 12
  • Check the progress of the discussions with the EuroLeague Players Association and the EuroLeague Head Coaches Board with the aim of reaching short-term European framework agreements with both collectives
  • Review the improved financial stability and fair play rules to apply from the 2021-22 season with the goal of improving club sustainability and competitive balance. For the 2020-21 season, previously approved regulations apply. The main proposals include setting player salaries based on net basketball related market earnings. The proposals will be further discussed at the next board meeting in early July 2020
  • Reject Panathinaikos Athens’s application to transfer its EuroLeague club license because the club has not guaranteed that it will meet all of its obligations towards the other ten licensed clubs and Euroleague basketball. The clubs also repeated the statement previously made on June 12
  • Approve that 2020-21 7 DAYS EuroCup team listand chose Dolomiti Energia Trento as a replacement for the Fraport Skyliners Frankfurt, which have withdrawn from the competition

All decisions made by the Board will be presented to the ECA General Assembly for formal approval on July 9, 2020.

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This post was written by
Alexandros Tsakos

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