APPENDIX 2 - Euroleague Basketball

as an ECA shareholder, which will entail the obligation to sell its
shares in this company according to the procedures and pricing
criteria established by the General Assembly.
6.3. The suspension of the Licence Contract will entail the loss of the
Club’s right to participate in the Euroleague, the loss of the
Club’s rights derived from its participation, and the loss of the
economic and voting rights in ECA. Additionally, the suspension
of the Licence Contract will entail the Club’s obligation to refrain
from executing any rights whatsoever (e.g. economic, voting,
etc) held in the Companies or, as the case maybe, the Club’s
obligation to sell its ECA shares according to the procedures,
consideration and pricing criteria established by the General
Assembly, during the period in which the Licence is suspended.
Article 7.
Substitution of a Club
When a vacancy arises among the Clubs with, or having the
right to, an A Licence for any of the reasons mentioned in the
preceding article or any other reasons, the Shareholders
Executive Board may propose the following to the General
Assembly:
a) The substitution for the club that has the highest ranking of
clubs without an A Licence according to the Club Ranking. In
all cases, the new club must fulfil all other requirements
established in these Licensing Rules for obtaining an A
Licence; or
b) The substitution of the place for a B Licence, definitively or
temporarily; or
c) The substitution of the place for a wild card, which will be
granted to the club that the General Assembly considers
appropriate at its own discretion and for the period that it
deems necessary.
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