By Eurohoops team/ info@eurohoops.net
Turkish Airlines Euroleague officially announced that Russian team Unics Kazan has been sanctioned for infringements to the Financial Stability & Fair Play Regulations (FSFPR). during the 2016-17 season.
The official announcement by EuroLeague Basketball is as follows:
“The Finance Panel of Euroleague Basketball has sanctioned UNICS Kazan for infringements to the Financial Stability & Fair Play Regulations (FSFPR) during the 2016-17 season when the club participated in the Turkish Airlines EuroLeague. On March 22, the Management Control Commission referred to the Finance Panel an adjudicatory proceeding against UNICS Kazan for allegedly infringing the FSFPR.
The referred infringement concerned a budget allocation for player salaries in an amount that exceeds 65% of the total expenses of the club during its participation in the 2016–17 EuroLeague season.
The Financial Stability & Fair Play Regulations, approved by all clubs, set forth parameters for expenditures and budget allocations that are intended to balance and to strengthen club finances for long-term stability and ensure fair competition amongst them.
UNICS Kazan has been found responsible for infringing on Article 32.1.g) of the EB Disciplinary Code, for allocating over the limit for player salaries as a percentage of its overall budget. As such, the club has been sanctioned with a fine of €45,190“.