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SBD Global/June 13, 2013/Finance

Finance Notes: Spanish Basketball Club Lucentum Owes ACB $2.4M For Inclusion

Spanish basketball club Lucentum has until next Friday to pay €1.8M ($2.4M) to be able to play in the Spanish Basketball League (ACB) next season. Lucentum recently earned one of two promotion spots to the ACB for '14, but owes the league the payment by next Friday before it can be promoted. The fee is related to the club's economic relegation from the ACB in '12 for economic reasons (EFE, 6/12). ... Unionists said on Tuesday that hundreds of workers have been fired from a Cambodian factory making sportswear for Nike "following a series of protests over pay." Unionists denounced the move as "unacceptable" and illegal (AFP, 6/11).
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