Franchise Notes: Real Valladolid Out Of Bankruptcy Following Judge's Approval
Spanish second division side Real Valladolid is "no longer in bankruptcy," which it entered in Dec. '11. A Spanish court on Tuesday announced its approval of an agreement on a payment plan between Valladolid and its creditors. With "this ruling, the team's creditors, Ricardo Nieto Sampayo and Juan Barco Vara, cease their intervention with the club" (AS, 7/23). ... Spanish basketball club Bilbao Basket President Jon Davalillo "expressed optimism" after his club was dropped from the Spanish Basketball League (ACB) for the upcoming season for economic reasons. The club's execs are "continuing to fight for the club's survival while considering various paths to take." Davalillo: "We are not here to talk, we are here to work. We are alive and the club council is continuing to work on the options that we have on the table. We cannot advance anything, but we are not stopping" (MARCA, 7/23).