By Johnny Askounis/ info@eurohoops.net
Euroleague Basketball released an official update following the Euroleague Commercial Assets Shareholder Clubs meeting on Tuesday.
Per the press release: “Euroleague Commercial Assets (ECA) Shareholder Clubs met on Tuesday, October 6, in Cernobbio, Italy, to discuss and align on key strategic decisions regarding the future of their collective property.
Euroleague Basketball President Dejan Bodiroga welcomed the attendees and highlighted the work carried out by the clubs over the past decades, which has driven unprecedented growth, interest and momentum for European club basketball.
The meeting continued with a presentation by Euroleague Basketball CEO Chus Bueno, who provided an update on the progress made against the approved strategic roadmap and the 10-year business plan, as well as on key strategic priorities. These included the proposed conversion of the current 10-year licenses held by the thirteen shareholder clubs into franchises, and expansion opportunities arising from multiple binding offers received from leading professional clubs.
Franchise Transformation
The attending club owners agreed to move forward with the process of converting the current 10-year licenses into franchises for the thirteen ECA shareholder clubs: Anadolu Efes Istanbul, Baskonia Vitoria-Gasteiz, CSKA Moscow, Armani Olimpia Milan, FC Barcelona, FC Bayern Munich, Fenerbahce Istanbul, LDLC ASVEL Villeurbanne, Maccabi Tel Aviv, Olympiacos Piraeus, Panathinaikos Athens, Real Madrid and Zalgiris Kaunas.
Franchise Expansion
The clubs agreed to continue the process to expand the number of franchises. Club owners appointed the Board of Directors to continue with the review process and present a final recommendation for approval in the upcoming weeks.”
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