Marino: Lightning need more or new owners by Mar 24
The Whyalla-based boss of Link Engineering has informed Basketball Australia he only has three options — including winding up the team — after spending $500,000 on the Lightning for each of his seven years as owner.Full story
"I can't do it by myself anymore," he said today.
“It has cost me $500,000 a year and after seven years and no WNBL assistance, I can’t do it anymore.”
Marino yesterday informed BA, which administers the WNBL, his options were to sell his full interests in the team or to sell part interests in the team, with expressions of interest required by March 17.
If no-one showed interest in buying or co-owning the Lightning, Marino’s third and least palatable option was to hand the license to the WNBL on March 24, ending the club’s 22-year existence.