APPENDIX 2 - Euroleague Basketball

3. MANAGEMENT CONTROL AND SUPERVISION BODIES
The bodies responsible for management control, decision-making and
supervision will be the following:
MANAGEMENT CONTROL COMMISSION
This commission will be composed of:
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The Euroleague Basketball CEO.
The President of the Financial Commission.
Two members economically independent of and without any
working relationship with the clubs, who will be appointed by
the Euroleague Basketball CEO. These members must be
experts of recognised prestige in finance and accounting. They
must also know the particularities of basketball clubs.
Duties:
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Defining the general accounting criteria applicable to the clubs.
Defining the specific accounting criteria applicable to those
clubs that are not incorporated as limited companies.
Creating the documents that the clubs must complete and send
regularly.
Requiring complementary documents and explanations when
they consider it appropriate and/or appointing accounting and
auditing experts to review the documentation at the club’s
offices.
Elaborating, by 30 December each season, a report about the
documentation submitted by the clubs participating in the
Euroleague determining whether they will be authorised to
participate and/or apply for a licence in the next Euroleague
season in the case that these clubs show signs of doubtful
financing and poor economic feasibility.
Deciding on conducting compliance audits of the clubs at any
time, in order to ensure that they are fulfilling their obligations
and that licences were correctly granted.
Submitting to the corresponding governing and/or disciplinary
bodies, if appropriate, proposals for any actions to be taken.
Reporting to ECA any relevant facts.
In carrying out these duties, the Management Control Commission
will ensure equal treatment to all clubs and will at all times bear in
mind the overall objectives of these regulations, in particular to
defeat any attempt to circumvent these regulations and their
objectives.
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