The Euroleague imposes fines for exceeding budget on some teams

The Euroleague imposed financial sanctions on Panathinaikos, Olympiacos, Hapoel Tel Aviv, and Anadolu Efes for exceeding financial limits, with fines reaching millions of euros.

Compensations for competitive imbalance

In a recent meeting, the Euroleague Board decided to keep 20 teams for the upcoming season. Four teams, including Panathinaikos and Olympiacos, were penalized for breaching Financial Fair Play. The Euroleague imposed significant fines, such as the €3,065,691 on Panathinaikos BC for surpassing the limit, and others on Anadolu Efes, Hapoel Tel Aviv, and Olympiacos.

Similar tax to the NBA's

These fines resemble the NBA's 'luxury tax' and will be distributed among the teams that respected the established limits. ASVEL was the exception, spending less than required. The Euroleague highlighted the progressive implementation of Competitive Balance Standards.

Requests and votes

Panathinaikos sought tax exemptions and a deferral, but the proposals were rejected. The club submitted a request to stagger the fine payment, pending review in future Euroleague shareholder meetings.

This news is an automatic translation. You can read the original news, La Euroliga impone multas por exceso de presupuesto a algunos equipos