Sheffield Sharks have moved to re-assure fans over the club’s financial situation.
It was reported recently that they were forced to de-register players by the BBL for falling behind in their contribution to the payments for screening the BBL on SKY Sports.
The Sharks entered the season under budget, and didn’t fill their third work permit spot.
It’s been a difficult few weeks for the Sharks, with player-coach Atiba Lyons banned for one game for comments made following the BBL Trophy semi-final defeat against Newcastle.
A club statement confirmed that an anticipated investment did not happen, leaving a significant gap in the club’s budget.
Chairman Yuri Matischen said: “These are difficult economic times for all businesses and our organisation has had to face up to the same issues as countless others in the UK.”
It is believed that the Sharks aren’t the only club who have been threatened with the prospect of de-registering players this season.
Managing Director Sarah Backovic added: “We are working hard with all our partners to ensure the Club continues to be a competitive and, importantly, a high profile community sports brand for the region engaging with young people in a range of inspirational programmes both on and off the court.
“We have had fantastic support from existing sponsors, and we will be looking to add to our sponsorship and share portfolio to ensure the security of the club moving forward.”
The Sharks, who pushed eventual league champions Mersey Tigers all the way last season, have dropped down the BBL ladder this season and they lost their two year hold on the BBL Cup at the hands of Plymouth in November.