After a meeting in Geneva, Switzerland on Thursday FIBA Europe and ULEB have agreed to amend the existing agreement of 2004 in an effort to more closely integrate Europe's three men's basketball competitions.
The new system, agreed upon in principle at the Thursday meeting, will include elimination rounds leading to two 32 team competitions in addition to Euroleague.
The major points of the amended agreement include:
1. The elimination rounds will be administered by FIBA Europe and will be played under FIBA Europe eligibility rules.
2. The second and third competitions (featuring 32 teams each) will run on a parallel calendar during the season.
3. There will be promotion from the third competition to the second competition beginning in the 2009-2010 season.
4. The name of Euroleague will remain while the other two competitions will be renamed in the near future.
Further details will be made available by FIBA Europe as they are finalized.