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SBD Global/March 24, 2014/Franchises

Financially Stricken Spanish Basketball League Side Bilbao Basket Players Announce Strike

After "too many empty promises and too many pending accounts," Spanish Basketball League (ACB) side Bilbao Basket's players "reached a decision to schedule a strike starting on Monday," according to Eduardo Rodrigálvarez of EL PAIS. The "difficulties in recent seasons have ended up with the club up against the wall and the damages have not been small." The "departure of majority shareholder Gorka Arrinda has not had the desired effect." New investors "have hit the same wall: a lack of sponsorship." Bilbao forward Roger Grimau said at a press conference to announce the indefinite strike, "We can't any more." A partnership recently signed with medical insurance firm IMQ "was followed by frustration when the firm realized that the club's debts are much bigger than what was initially announced" (EL PAIS, 3/22).
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