Finance Panel resolution in Khimki

Jul 09, 2021 by Euroleague.net Print
Finance Panel resolution in Khimki

The Euroleague Basketball Finance Panel has rendered its decision concerning the compliance status of Khimki Moscow Region with the Financial Stability and Fair Play Regulations (FSFPR).

The proceeding had been opened on the basis of an alleged infringement of overdue payables under Article 32. a) of the Euroleague Basketball Disciplinary Code.

The case was referred by the Euroleague Basketball Management Control Commission for the Finance Panel to review the proceeding.

As a result of that review, the Finance Panel has ruled:

1. Khimki is responsible for the infringements contemplated by Article 32. a) of the Euroleague Basketball Disciplinary Code.

2. Khimki is sanctioned with a limitation on player expenses for the two upcoming seasons it participates in the Euroleague Basketball competitions.

3. The ban on registration new players and coaches in force as a result of a previous proceeding referred to the Finance Panel will likewise apply as long as the Overdue Payables remain outstanding pursuant to Article 2(k) of the Financial Stability and Fair Play Regulations.