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Monitoring Process
Promoting transparency, accountability and responsible financial management.
The monitoring process outlined by Euroleague Basketball's Financial Stability and Fair Play Regulations is a comprehensive framework designed to uphold the financial integrity of the competition. The framework is intended to foster transparency, accountability, and financial responsibility among participating clubs. It consists of several stages, each aimed at assessing, verifying, and ensuring the financial soundness of the clubs. Below is an overview of the key components of this monitoring process:
Legal and Financial Assessment
The initial step in the monitoring process is to ensure that each club maintains a robust legal structure and a sound financial standing. This includes a thorough review of the documents submitted by the club during its registration for the season. These checks verify compliance with the relevant regulations, confirming that the club is financially stable and adheres to the governance standards set by Euroleague Basketball.
Audited Accounts
Euroleague Basketball requires clubs to submit their audited accounts for the T-1 season by 20 December of the T season. In addition, clubs are required to provide audited accounts for the T-2 and T-3 seasons when registering for the following season. This ensures that clubs maintain a high level of accountability in their financial reporting.
Budgeted Profit & Loss Statements
Clubs must submit Budgeted Profit & Loss (P&L) statements to outline expected revenues and expenses for the upcoming season. The submission process involves the following key stages:
Due on 15 June (T-1 season), this submission provides a preliminary financial plan for the upcoming season. This ensures clubs begin the season with a well-established financial framework, allowing for the early identification of any potential financial discrepancies.
By 30 September (T season), clubs must submit an updated version of their Budgeted P&L. This allows clubs to revise their financial forecasts to reflect actual performance and to adjust their financial goals to ensure ongoing fiscal responsibility throughout the season.
Due by 31 January (T season), this final update offers a comprehensive and up-to-date financial forecast for the remainder of the season. It serves as a critical assessment tool to confirm that clubs are on track to meet their financial commitments and maintain fiscal stability through the season's conclusion.
By 15 June (T-season), clubs must submit closing forecast for the T season, providing an accurate and clear projection of their financial standing as the season concludes.
Remuneration Payment Confirmation
An essential component of the monitoring process is ensuring that clubs do not have overdue payments. Clubs are required to confirm remuneration payments at four key intervals during the season: 15 October, 15 January, 15 April, and 15 July. This verification ensures that clubs fulfill their obligations to players, coaches, staff, other clubs, as well as tax and social authorities, in a timely and responsible manner.
Players Contracts
As part of the monitoring process, clubs are required to submit detailed player contracts, which are reviewed for compliance with the Competitive Balance Standards (CBS) and the EuroLeague Framework Agreement (EFA). The review ensures that contracts are legally binding and that financial terms, including remuneration, monthly installments, fringe benefits, bonuses, and other compensation, are accurately reported. Regular checks through the CBS Platform are conducted to verify that all contracts adhere to the league’s financial stability rules, ensuring no violations that could impact the integrity of the competition.