Another step forward towards the achievement of the established 2017-22 Strategic Plan was taken by the ECA Shareholders at the latest meeting in Tel Aviv, Israel, with the creation of the Chief Business Officers Board (CBO Board).
The new governing body will take the lead in the definition of current and future collective business strategy and of the collaboration framework between the league and the clubs to maximize revenue generation.
The CBO Board will coordinate with EuroLeague Business Operations & Club Services (BOCS), which was established in 2017 to work with the clubs across all commercial areas to maximize revenues and create long-term business sustainability.
The CBO Board will be formed by the Chief Business Officers of KIROLBET Baskonia Vitoria-Gasteiz, FC Bayern Munich, Maccabi FOX Tel Aviv, Panathinaikos OPAP Athens and Zalgiris Kaunas. Additionally, the clubs will be joined by external consultants Hasan Arat – businessman, former Besiktas Vice President and professional basketball player – and Marshall Glickman – G2 Strategic CEO – as well as by Euroleague Basketball executives.
The CBO Board will discuss the current business management structures and strategies of the clubs and identify potential areas of collective and individual growth. These discussions will be powered by the insights delivered by EuroLeague BOCS in all business verticals, including sponsorship, ticketing, premium seating, digital, merchandising and licensing, communications, fan engagement, arena usage, venue development, organizational structure and executive recruitment.
In its short existence, EuroLeague BOCS has already developed a central platform to analyze the clubs' business data with the objective of sharing valuable information among them as business partners of the league. Recently, all club CBOs had the opportunity to meet with some of the most important sports organizations in the United States, including clubs, leagues and venues, to identify best practices applicable to the European sports market.
The CBO Board joins existing Euroleague Basketball bodies in other areas, such as the advisory council and the management control commission, whose missions are to make the game better and to oversee compliance by the clubs with the Financial Stability and Fair Play Regulations (FSFPR), respectively.