By Eurohoops team / info@eurohoops.net
EuroLeague Basketball announced that Khimki Moscow has been banned from registering players after the competition’s Finance Panel ruled that the club is responsible for infringment of overdue payables.
Khimki has been reported to have an overdue debt of 2.8 million euros to players.
Per EuroLeague Basketball:
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 and had resulted in a transitory ban on Khimki from registering new players while the Finance Panel reviewed 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 ban on the registration of players as long as the Overdue Payables remain outstanding pursuant to Article 2(k) of the Financial Stability and Fair Play Regulations.