02/03/2020 | Press release | Distributed by Public on 02/03/2020 09:52
LUXEMBOURG (Luxembourg) - The Luxembourg Appeals Court has ruled in favor of FIBA Europe in the case relating to the termination of an agreement between FIBA Europe and Euroleague Properties SA.
The Court of Appeals has integrally confirmed the judgement on the first instance, rejecting the appeal filed by Euroleague Properties SA and ordering it to pay FIBA Europe €900,000 plus interest, an indemnification of €2,000 and to bear all costs of the proceedings.
The ruling states, among other points, that the new FIBA calendar that was approved in 2012 and came into force in 2017 did not constitute a breach by FIBA Europe of the provisions of the Euroleague Agreement.
At its last meeting in November 2019, the Board of FIBA Europe decided to allocate the amount to the continuation of the Her World Her Rules project for the years 2020 and 2021 in case the ruling was in FIBA Europe's favor.
In 2004, FIBA Europe and ULEB (Union of European Leagues of Basketball) signed a contract regulating the organization of club competitions in Europe. Since 2010, Euroleague Properties had undertaken ULEB's obligation to pay the annual fee of €400,000 to FIBA Europe. Euroleague Properties purported to terminate the agreement in December 2012, invoking the announced change to the FIBA Calendar as of 2017.
FIBA (fiba.basketball) - the world governing body for basketball - is an independent association formed by 213 National Basketball Federations throughout the world. It is recognized as the sole competent authority in basketball by the International Olympic Committee (IOC).