Olympiacos referred to Finance Panel

May 27, 2019 by Euroleague.net Print
Olympiacos referred to Finance Panel

The Euroleague Basketball Management Control Commission (MCC) has referred Olympiacos Piraeus to the Finance Panel for further monitoring of the club's compliance status with the Financial Stability and Fair Play Regulations (FSFPR) for overdue payables, which are contained in the Euroleague Basketball Disciplinary Code. The regulation whose compliance is in question concerns payments to Olympiacos players by the club. The case arose from a complaint filed with the MCC by the EuroLeague Players Association (ELPA).

The proceeding has been opened on the basis of an alleged infringement of the criteria established in Article 3.a) of the Financial Stability and Fair Play Regulations. The MCC's decision to refer the case to the Finance Panel means that the latter would be expected to issue a decision within the next 30 days, in accordance with Article 33 of the Euroleague Basketball Disciplinary Code.