PRESS RELEASE |

ECA Shareholders Executive Board discuss Financial Fair Play, stakeholder framework

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

The Executive Board proceeded to:

- Approve the 2019-20 Euroleague Basketball financial closing, with economic club distribution being reduced by 14% compared to the pre-season forecast, despite total revenues being reduced by 30% following the season cancellation due to the COVID-19 global pandemic. The amount distributed to EuroLeague and EuroCup clubs corresponds to 100% of the forecasted market pool distribution as well as 100% of the forecasted sports pool distribution for the games played until March 12
- Review progress of the conversations with the EuroLeague Players Association and the EuroLeague Head Coaches Board, with the goal of reaching short form European Framework Agreements with both collectives
- Review improved Financial Stability & Fair Play Regulations to be applied from the 2021-22 season onwards, with the objective of increasing clubs’ sustainability as well as competitive balance. Previously approved regulations apply for the 2020-21 season. The main proposals include establishing player salaries based on Net Basketball-Related Market Revenues. The proposals will be further discussed at the next Executive Board meeting that will take place in early July 2020
- Reject Panathinaikos Athens’ request to transfer its EuroLeague Club License, due to the fact that no guarantee has been provided by the club that it will fulfill all associated commitments towards the other ten licensed clubs and Euroleague Basketball. Clubs also reiterated the statement previously issued on June 12
- Approve the 2020-21 7DAYS EuroCup Team List, selecting Dolomiti Energia Trento to replace Fraport Skyliners Frankfurt who have withdrawn from the competition

All decisions taken by the Executive Board will be presented at the ECA Shareholders Meeting for formal approval, to be held on July 9, 2020.

Euroleague Basketball (EB) is a global leader in the sports and entertainment business, devoted to running the top European competitions of professional basketball clubs under a unique and innovative organizational model. Owned and administered by some of the most successful and historic clubs in the world, EB manages and organizes the continent’s two premier men’s basketball competitions, the Turkish Airlines EuroLeague and the 7DAYS EuroCup, as well as the sport’s premier under-18 showcase, the EB Adidas Next Generation Tournament.

The EB competitions bring the elite of European basketball to all five continents and to the entire sports community through the OTT platform EuroLeague TV. EB also organizes a series of community and educational programs. Its ground-breaking corporate social responsibility program One Team features all EB clubs that have already made a difference in the lives of over 19,000 participants. Its Sports Business MBA trains future professionals in sports management.