|On Wednesday the ECA Shareholders Executive Board members met in Milan, Italy, to review the progress of the EuroLeague and to hold strategic discussions.
Attendees were updated on the current situation and evolution of the business with a detailed view of clubs’ expenses and an analysis of the different tax systems and market conditions that each club faces. The Financial Stability and Fair Play Regulations, which have been deployed since 2015-16, were reviewed, including the proposed evolution of these. They monitor clubs’ financial activity to ensure a fair competition off the court and the long-term sustainability of their individual and collective business. Executive Board members shared their views on the diverse macroeconomic framework that clubs operate in and how these influence clubs’ revenue expectations and expenses.
It was agreed that the Euroleague Basketball management will continue its work to deliver Executive Board members with a detailed plan to strengthen the long-term business stability and sustainability across the entire EuroLeague ecosystem.
Clubs were updated on the progress of the five-year strategic plan defined in June 2017 in Chantilly, France, specifically regarding stakeholders integration. The latest conversations and proposals received from the EuroLeague Players Association (ELPA) and the Union of EuroleagueBasketball Officials (UEBO) were discussed. The ELPA proposals covered a variety of topics including, but not limited to, overdue payments, practices, travel, game schedules and neutral second medical opinions. Clubs welcomed the recent creation of the EuroLeague Head Coaches Board (ELHCB), unanimously sharing the view that together with the ELPA and the UEBO these will provide further strength, stability and solidity to the future of the EuroLeague.
Euroleague Basketball executives presented the clubs with the updated 2019-20 Euroleague Basketball Draft Calendar and By-laws proposals.
All will be presented for formal approval at the next ECA Shareholders Meeting.