ANNOUNCEMENT

With no. 528/2015 decision the Administrative Applet Court of Athens accepted the intervention of Olympiacos BC and unanimously rejected as unfounded the petition of D. Giannakopoulos and M. Papadopoulos to suspend the execution of the decision of the Committee on Professional Sports.

In regard to Panathinaikos BC, the court has decided, with a majority vote exempt for its President, to allow it continue participate with the A1 Basketball League.

Following that, D. Giannakopoulos and E. Papadopoulos have to immediately abide by the Committee’s decision, that has withdrawn the permit given on December 5, 2014 to transfer the Panathinaikos BC stock shares, as it is deemed to be an image transfer plus E. Papadopoulos does not bear financial credibility.

We salute the “court” decision to allow Panathinaikos to continue participating with the A1 League and the official return of the rightful owner D. Giannakopoulos.