Cash crisis forces Waterford to pull out of SuperLeague

WATERFORD Basketball Club, known as Waterford Crystal, will not compete in the Nivea for Men SuperLeague for the 2005-06 season.

Due to recent financial difficulties, Waterford Crystal can no longer continue with their sponsorship, which has left a large revenue gap to fill.

Despite major efforts over the last six to eight months, club personnel could not bridge that gap.

The club had a very successful six years in the top flight, reaching two National Cup semi-finals and becoming League champions in the 2002-03 season.

Michael Evans, club chairman and head coach said: “We very much appreciate the partnership we had with Waterford Crystal and feel that it was truly beneficial to both parties. It was instrumental in putting Waterford Basketball Club on the national stage, and we enjoyed every minute of it.

“Unfortunately, the financial commitments required in the Nivea for Men SuperLeague are too great for the club to undertake without a primary sponsor.”

This means the SuperLeague will be down to 11 teams, six in the Northern Conference and five in the Southern.

A number of options are open to the SLMB in terms of how the SuperLeague will be structured. It must decide whether to revert to a straight league format or continue with the conference system. A decision is expected in the next week.

Waterford hope to play in National League Division One this season.