Euroleague Basketball lifts Olympiacos transfer ban

2020-02-25T09:53:39+00:00 2020-02-25T10:02:10+00:00.

Giannis Askounis

25/Feb/20 09:53

Euroleague Basketball Finance Panel rules in Olympiacos Piraeus proceeding.

By Eurohoops Team/

Olympiacos is cleared to register its newly-acquired players effective immediately. Euroleague Basketball announced on Tuesday that the transfer ban imposed as a provisional measure comes to an end.

Therefore, Dwight Buycks and Shaquielle McKissic will be available for Thursday’s Turkish Airlines EuroLeague Regular Season Round 26 away match versus Maccabi FOX Tel Aviv.

Per Euroleague Basketball: “The Euroleague Basketball Finance Panel has rendered its decision concerning the compliance status of Olympiacos Piraeus with the Financial Stability and Fair Play Regulations (FSFPR).

The proceeding had been opened on the basis of an alleged infringement of overdue payables, omitting to provide information, and unfulfillment of agreed compliance plans under Articles 32. a), d) and e), respectively, of the Euroleague Basketball Disciplinary Code.

The case was referred by the Euroleague Basketball Management Control Commission and had resulted in a transitory ban on Olympiacos from registering new players during a 30-day period while the Finance Panel reviewed the proceeding.

As a result of that review, the Finance Panel has ruled:

1. Olympiacos is responsible for the infringements contemplated by Article 32. a) and d) of the Euroleague Basketball Disciplinary Code.

2. Olympiacos is sanctioned with a restriction on the players’ expenses as follows:

a. 7.5% reduction (from 65% to 57.5%) of the permitted gross player salary costs for the 2020-21 EuroLeague season.
b. 5.0% reduction (from 65% to 60%) of the permitted gross player salary costs for the 2021-22 season.

3. The ban on the registration of players imposed as a provisional measure on 31 January 2020 comes to an end on the date of the present decision, therefore on 25 February 2020.”