FIBA Europe statement on FIBA Europe-Euroleague termination agreement case

In response to media inquiries, FIBA Europe confirms that on Friday June 16 it received the ruling of the Luxembourg Commercial Court, ordering Euroleague Properties SA, a subsidiary of Euroleague Commercial Assets SA, to pay FIBA Europe €900,000 plus interest, an indemnification of €1,500 and to bear all costs of the proceedings.

In its decision, which may be appealed by either party, the Court found that the contract between FIBA Europe and Euroleague Properties came to an end in January 2015; the fees awarded in favor of FIBA Europe cover the period between 2012 and 2015, while no fees are due after that date.

The Court also held that the introduction of the new FIBA calendar did not represent a breach of contract by FIBA Europe, although this was the stated reason for Euroleague Properties' decision to refuse payment between 2012 and 2015.