EuroLeague Properties to pay €900,000 to FIBA Europe

EuroLeague Properties will be paying the sum of €900,000 to FIBA Europe as requested by the Luxembourg Commercial Court.

As reported by El Pais, EuroLeague Properties is called to pay the sum of €900.000 to FIBA Europe, plus interest, plus an additional compensation fee of €1,500 and take care of all the costs of the trial procedures. This is subject to an appeal.

In the decision of the Court, the conclusion was that the contract, signed between FIBA Europe and EuroLeague Properties expired on January 2015.

The fee that must be disbursed to FIBA covers the period between 2012 and 2015 while all commission following 2015 aren’t taken into account.

This was the case originally made by EuroLeague Properties for declining to pay the fee from 2012 to 2015.

The Commercial Court also decided that the introduction of the new FIBA Calendar doesn’t consist a contract breach from the side of FIBA Europe.