shin splints
Years ago

Please summarise 36ers issue in 50 words or less!

For those who came in late!

I am trying to piece together all the info.

Mal owns the Sixers, but does not want to put up the $1M guarantee?

Mal will only sell at an inflated price, hence no imminent buyers?

Mal argues to NBL that the 36ers shouldn't have to prove their viability?

NBL come back and say that $50m in assets is sufficient?

Is this how the events have unfolded?

Topic #19644 | Report this topic


Isaac  
Years ago

Groves is looking for a particular price for the team and venue and doesn't seem to be budging much so no buyer has taken him up on it.

Hemmerling cannot shoulder running it alone, cannot cover the $1m guarantee and has not been able to find others to help. As a result, he's trying to get an exception.

The NBL are also accepting "$50m in tangible assets" as an alternative to the $1m bank guarantee, presumably first as a concession to Bendat (Perth owner), but are refusing an exception noting that shortfall and cashflow problems are exactly what they're trying to avoid in the new league.

36ers issued a press release last night. There was a press conference scheduled at the Dome at 3.15 today but no word from it yet. NBL responded (not happy Jan) in a press release today.

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