Sarajevo-Based Basketball Team KK Bosna 'Freezes' Activity Due To Financial Problems

Sarajevo-based basketball club KK Bosna announced that it "has ceased its activity due to grave financial and personnel problems," according to the EFE. The club made the decision to "freeze" activity on Tuesday night. The team won a European championship in '79. KK Bosna "has been on the border of bankruptcy for years due to different debts, including those to ex-players as well as various taxes." The total debt "is unknown but is believed to be" close to €5M ($6.3M). The club has asked the Bosnian basketball federation "for authorization to temporarily continue with the name Royal, the school for youth players, under the title KK Bosna Royal, with which it would preserve the brand and attempt to pay the debt." It is "unlikely, however, that the federation will approve of the club playing under a new name in national competitions at the highest level." It is "more likely that the club descends to Bosnia's second division" (EFE, 10/22).