EuroLeague reportedly issues record fine to Panathinaikos / News - Basketnews.com

Panathinaikos were fined a record-breaking amount of €725,000 by the EuroLeague for violating Financial Fairplay rules. The fine can reach one million euros if certain agreements are not respected.

Credit: Vangelis Stolis Credit Vangelis Stolis

EuroLeague imposed a record-breaking fine of €725,000 on Panathinaikos Athens, according to Jose Ignacio Huguet of Mundo Deportivo.

2-pointers this season

51%18,2Points made:18,2Accuracy:50,7%Place in standings:16Record max:28Record min:11Most made 2FGs:Dwayne BaconTeamEuroLeagueStatisticsSchedule

Via the report, the fine can reach one million euros if some agreements are not respected by the PAO side.

EuroLeague did not specify the amount of money the Greek organization was fined in its official announcement. The league said that it imposed both sports and economic sanctions for violating Financial Fairplay rules.

EuroLeague also announced a deduction of two victories from Panathinaikos' account in the current season's standings.

The two-win sanction did not have a significant impact on the final standings. PAO finished the season in 17th place.

The period of infraction dates back 3-4 years and impacts mostly the seasons when COVID-19 struck the league the most, i.e. 2019-20 and 2020-21.

EuroLeague press release:

Panathinaikos Athens and the Management Control Commission (MCC) have reached a settlement agreement that will impose upon the Greek club both sports and economic sanctions in accordance with Articles 7 and 8 of the EuroLeague Financial Stability and Fair Play Regulations and with Article 60 of the Euroleague Basketball Disciplinary Code. The sports sanction will consist of a deduction of two victories from the team's total in the current season's standings.

The Management Control Commission (MCC) is an independent commission that reviews the financial performance of the clubs and their compliance with the relevant regulations.

When imposing the sanction, the MCC has positively evaluated the cooperative behavior and openness of the club during the monitoring process.

The sports sanction, a two-game victory deduction, will be applied to the final 2022-23 Turkish Airlines EuroLeague Regular Season standings and will have no direct effect on any opposing team nor on individual and team statistics or records.

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