By Aris Barkas / barkas@eurohoops.net
As Panathinaikos‘ sources mention, at the beginning of the meeting, Dimitris Giannakopoulos addressed an ‘ethical order issue’, concerning him and his family and his previous ban from EuroLeague.
The same sources also note that in terms of financial issues, the earnings and spendings are disproportional, even though it was made clear by EuroLeague that the estimated earnings from sponsorships are around 40 million euros.
After mentioning that, Giannakopoulos’ initial stance focused on the fact that EuroLeague’s board financial management is ‘a failure’ and proposed elections for a new CEO in the competition.
That being said, EuroLeague sources denied the option of the elections, as they do not adhere to the rules.
As in any similar company to the Euroleague, top management can be removed at any time as long as the majority shareholders agree to do so. There are no such election processes. If the clubs agree on that, that will happen, but for the moment that is not the case.