Bilbao Basket has reached a decision and announced that the club will not compete in the Spanish ACB (Liga Endesa) throughout the 2014/2015 season. The move follows a series of financial woes that nearly meant the club would have to withdraw late last season when the campaign was still in progress. The clubs’ debt is thought to be as high as millions of Euros and measures put in place to try and stem the losses have failed during the off season.
The Basque club was unable to complete its ACB registration in time, so Bilbao Basket will sit out the season. Problems have plagued the club in recent years and the last campaign proved particularly difficult with players going on strike over unpaid salaries. The club released the following statement:
“The Board of Directors announced that, after made countless efforts to get the expertise to develop the proposed viability funding plan, (we) have not achieved the expected results. Right now the situation is extremely delicate club and its future will be decided in a few days.”
It seems that not only is Bilbao Baskets’ place in the league open but the very future of the club is still in the air. Bilbao’s misfortune could be good news for CB Valladolid as the club could now regain entry into the Spanish top flight after being relegated at the end of last season.