By Vaggelis Patas/ info@eurohoops.net
After Palencia and Melilla, Ourense became the third team which had to right to be promoted in Liga Endesa but couldn’t afford it, while Bilbao Basket is also in danger of financial collapse.
In order for clubs to be part of Liga Endesa, they have to provide financial guaranties of 2.9 million euros. Those three clubs – and many more in recent years coming from the second division – couldn’t provide this sum and that’s why Estudiantes and Gipuzkoa, despite being relegated, they will stay in the top division. The last team which was promoted from LEB Oro and played in Liga Endesa is Andorra at the summer of 2014.
Meanwhile Bilbao Basket has 48 hours to announce if the club will stay in Liga Endesa. In order for this to happen, Bilbao must provide one million euros and pay old debts. If this can’t happen, then the club will have to find new settlement deals for its debts and also will lose the right to play in the top division. Since 2014, when the financial troubles of the team became public, the total debts of the club were more than 7 million euros.