Photo: EuroLeague Basketball

EuroLeague Basketball confirmed on Tuesday (20/08) that Olympiacos has settled its overdue payables.

Per the official announcement of the league:

The Finance Panel has rendered its decision on the proceeding that was opened against Olympiacos Piraeus last May regarding the consideration of overdue payables.

On May 27, the Euroleague Basketball Management Control Commission (MCC) referred to the Finance Panel the opening of an adjudicatory proceeding against Olympiacos Piraeus which resulted in the Financial Panel acknowledging the existence of overdue payables.

The MCC has been monitoring the fulfilment of settlement agreements with the players, and certified that the overdue payables that originated the opening of the proceeding have been settled.