Euroleague withdraws Munich Court proceedings

MIES, Switzerland - FIBA was informed on Wednesday that Euroleague Properties and Euroleague Commercial Assets (ECA) have surrendered in the German court in Munich all proceedings which they had previously initiated. They both withdrew their motion for a preliminary injunction and simultaneously waived all rights arising from the preliminary injunction issued on 2 June 2016.

This declaration was also made in the name and on behalf of Euroleague's co-applicants: Fenerbahce, Maccabi Tel Aviv, Olympiacos, Real Madrid, Gran Canaria, Olimpija Ljubljana, Lietuvos Rytas, Cedevita Zagreb, Zielona Gora, Unicaja Malaga, Adriatic League and the Spanish League (ACB).

As a consequence thereof, the court has cancelled the oral hearing originally set for 19 July 2016.

Euroleague will - together with its co-applicants - bear all the costs of the court proceeding as well as those of FIBA and also FIBA Europe.

Finally, this waiver of rights is also a clear signal that Euroleague will not appeal against the decision of the Munich court dated 23 June 2016, by which the injunction was annulled upon the motion of FIBA Europe.

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