Tuesday, December 23, 2008

ASK Riga in financial trouble..

ASK Riga will be another team in the long list of teams that were affected by the global economic crisis as the major sponsors of the team are going to cease their funding according to A board meeting will be held today and the club's future will be decided.

ASK Riga has 3 major sponsors, the Riga City Council, the Defense Ministry in Latvia and the Parex Bank. The Ministry and the Council have already announced that they are cutting down costs on sports sponsoring but Parex Bank has yet to make a stand. It is rumored that the bank as well will cut down on the funding perhaps even completely. This situation is bound to affect Barons LMT as well who are also funded by the Riga City Council. More on this subject in the days to follow..
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