Just finished reading the article there is a bit of guess work by the writer but it makes it pretty clear the sixers, BASA and Lightning are losing huge amounts of money.......

sell the PowerDome and lease it back as a way of getting out of debt.

Sell the Lightning off to someone who beleives that womens sport can be profitable....

Sell the sixers to a business person who knows the value of the product and what it is capable of.

BASA should get back to the business of administrating basketball in this state rather than trying to run three professional entities and doing none of it well.

Unfortunately it's not available online.

A few of the figures included in the article were regarding losses (Sixers lost $600,000 last year), coaching salaries (though compared to salaries from 12 years ago which seemed a bit forced!) and ticket sales (season ticket sales down at least 500 from last year).

It didn't really make anything about the team, coaches, administration, women's team, etc look positive at all.

I don't know about the financial situations of other clubs in the league, but surely this would make it hard for the club to recruit quality players? Would Brett Maher be more likely to play in Europe next season if he doubted the strength of his employer?

It certainly gave the impression that a critical issue to come would be the re-signing or not of Phil Smyth and Steve Breheny.

Forgot to mention that it compared Smyth and Breheny's salary to that of Shipway and Leslie. The later were only employed part time so the gap between then and now would not be that great i would think.

It's just one big dysfunctional family.

$240,000 for Phil, $100,000 for Steve, 5 year contracts for players. I hope the last one leaving turns off the lights. All this happened on Bernie Lewis watch. No wonder he wanted out, it wouldn't help his "financial" reputation if he stayed. A few more of the board should have left at the same time. Got to hand it to Phil though, he certainly stitched up basketball in this state! Time to get basketball people back with their heart in the right place.

3 Championships in 5 years.....what price do you put on that Jay???

Kent

In the world of business they call it bankrupcy

If a business is headed for bankruptcy then the first thing it does is get some people invloved that know what they are doing....trim the fat and hit the reset button.

Instead certain costs have ballooned out as the cow is being bled dry. The down side was never considered it seems before money was spent on consultants etc.

Cut the costs, set lose the parts of the business that are costing money and start again with more knwoledge about how the business should be run

Well, they have had the experts in for 2 years, being the State Government Auditor-Generals department.

As for wages for Breheny and Smyth, they are just figures plucked out of thin air (unless the 2 of them have publicly discussed them somewhere, which I doubt).

I cant beleive Jay is having a whinge about offering 5 year contracts to Smyth and Breheny. Given what they had done in the first season, they had every right to expect, and receive some form of job security (as much as a coach can have)

I must admit I cant work out how staff numbers can continue to grow, when finances are so dire, and BASA cant fully pay the staff they have there already.

Well I think that BASA might be hitting the panic button a bit because they are selling assets at the moment in the form of their Mitsubishi Magnas. Anyone want a cheap car? Maybe they can sell the Dome, franchise the sixers and Ligthing while they are at it.

Barry Richardson started this mess and hope the Governemnt catch up with this guy because he has a lot to answer for.

Gee, just as well the salary cap was introduced by the NBL for the benefit of all the other clubs in trouble!!

sixers have to become a seperate entity get rid of them and just worry about the junior basketball. Put your money into the future not the present or we may not have one.