Friday, November 21, 2008

The credit crunch hit Russia

The wave of the credit crunch has hit the Russian teams as well. According to an article from Ball In Europe the russian teams are having difficulties paying their players at the moment.

To quote directly from the article:
Much depends on the Dollar value. If the oil price keeps dropping - the Ruble (Russian currency) will fall. It is expected that the Ruble will fall. From here - everything will get worse. The Russian basketball contracts are in dollars, and the sponsoring of the clubs and salaries is in rubles. - meaning the clubs will have to pay more money to their players.

CSKA Moscow, Dinamo, Khimki, Triumph and CSK VVS don’t pay their salaries right now. It also says that Carlos Delfino refused to play in the 3rd quarter for Khimki during their latest game. Perhaps there will be more player-bleeding in the weeks to come and this time it might come from Russia.

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