By Eurohoops team/ info@eurohoops.net
After stating its intentions to leave EuroLeague, Panathinaikos OPAP announced another letter in which the club asked for two things – immediate payment of overdue installments coming from shared revenues as well as a thorough update on the pending financial negotiations and agreements.
Earlier in the day, Dimitris Giannakopoulos with a public statement repeated that he is leaving behind him any relationship with Panathinaikos management, both on the basketball and the amateur section of the club. Manos Papadopoulos (photo) continues to be the president of the club.
The new letter towards the EuroLeague is the following:
Dear Sirs,
First of all, as you well know, the scheduled installments corresponding to Panathinaikos BC’s share from Euroleague revenues (indicatively, television, and market pool) have still not been paid to our Club and remain overdue since 15 May 2020 causing irreparable damage to our planning.
On top of that, even though three months have passed following the suspension of the 2019-20 season, Euroleague has failed to inform all of the Clubs about any developments concerning the current financial situation of the competition, as well as any possible negotiations regarding Euroleague Basketball’s television broadcasting rights and existing or future sponsorship agreements.
The non-fulfillment of your above-mentioned critical obligations towards the Clubs clearly demonstrates Euroleague Basketball’s lack of programming and professionalism, leaving us vulnerable and exposed at a particularly challenging and critical time.
In view of the above, we once again ask both for the immediate payment of the agreed amounts and our thorough update on the pending financial negotiations and agreements.
Thank you in advance.
Sincerely,
For Panathinaikos BSA OPAP
Vassilios. G. Parthenopoulos
General Manager