APPENDIX 2 - Euroleague Basketball

CHAPTER IV
Transfer of the Licence, Change of City and Transfer of Shares
Article 14.
Transfer of the Licence
Only the Clubs with an A Licence may grant their licence to a
third-party club, with the prior approval of the General Assembly
and provided that they fulfil the specific requirements for
transferring licences that will be approved by the General
Assembly.
Under no circumstance will a Club that has not participated for
at least three consecutive seasons with an A Licence be
authorised to transfer its A Licence. No act, commitment or
resolution that is undertaken contravening this limitation will be
legally effective. Neither the Companies nor the Clubs will be
responsible before third parties for said non-compliance.
Article 15.
Change of the City in Which the Team Has its Arena
In the case that the Club decides to change the city in which the
team has its arena, it must request the approval of the General
Assembly.
To grant the authorisation established in the above paragraph,
the General Assembly will take into account if the operation in
question guarantees the compliance with the Bylaws, and if it is
beneficial for the competition, for the promotion of basketball
and for the commercialisation of the Euroleague properties.
Article 16.
Transfer of Shares
Any substitution of a Club, whatever the reason for said
substitution is, will entail the obligation of the old member to sell
and the new member to purchase the ECA shares of the Club
being replaced. This transfer of shares will be made according to
the procedures, consideration and pricing criteria established by
the General Assembly.
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