donmar said:
Heard that the owner of the Sydney Kings are scouting in Manila... I wonder who's gonna follow Jason Castro in the NBL....
He's in Manila and is searching for an investor to rescue the ailing Kings
http://www.smh.com.au/news/basketball/basket-case-kings-in-turmoil/2008/05/27/1211653947712.html
THE Sydney Kings could be days from extinction. The basketball team's majority owner, the controversial Firepower boss Tim Johnston, has failed to pay his players this month and owes them tens of thousands of dollars, putting pressure on the National Basketball League to strip the club of its franchise.
Mr Johnston and his wife, Sandra, were understood to be in the Philippines yesterday, searching for an investor to rescue the ailing Kings, as the club missed the deadline to pay its former captain, Jason Smith. This sent Mr Johnston into default with the NBL.
The NBL chief executive, Chuck Harmison, met concerned Kings players but he fears the worst for the club's future.
"Losing their licence; it's an option we are exploring but it's not the preferred option," Mr Harmison said.
"We want the Kings to stay in the league. The city has really embraced them, but I have to say I'm concerned. We met the Kings ownership group last week and unfortunately there were a couple of things we asked them to do and nothing happened."
The players' union representative, Mark Ryan, has been acting on behalf of Smith, who is owed more than $10,000. Mr Ryan said the club's situation was dire.
"The real question is: is there any money available?" Mr Ryan said. "We have no idea at the moment."
The club has failed to pay players as far back as April and has not paid any staff member superannuation in nearly a year.
Mr Ryan, the acting federal secretary of the Media Entertainment Arts Alliance, said the team was on a path to extinction. Smith, , an Australian representative, had filed a complaint to the Industrial Relations Commission giving the Kings 10 days to pay him. The Kings failed to act on this, pushing the team into default with the league yesterday.
"The worst-case scenario is that they will lose this franchise," Mr Ryan said. "The club had 10 days to make the payments - and they didn't. They failed to remedy the default.
"I understand the club has two major problems; they've failed to pay super, which [has been] investigated by the Australian Tax Office for some time. And since April they have gone off the rails in paying salaries."
The long-time coach Brian Goorjian walked out earlier this year, upset by the administration.
Part of Smith's salary stopped flowing into his bank account in April, when it was revealed the South Dragons were interested in signing him, which they later did. He will go to the Industrial Relations Commission on Friday.
