So THAT'S How You Deal With A Cashflow Problem

Site Admin
Posts: 637
Joined: Sat Oct 09, 2004 12:51 am

So THAT'S How You Deal With A Cashflow Problem

Post by dmbishop » Wed Mar 23, 2016 12:17 am

Here is my take on it.

1. Apparently, the league handles payroll for all teams.
2. They missed a week's pay for 4 teams (the usual excuse of a cashflow shortage).
3. They promised to pay the players.
4. 3 teams agreed, 1 team said they would have to CONSIDER it (they DID NOT strike).
5. The league terminated the team.
6. The league cancelled the final week of the season.
6a. Why? Were they afraid they couldn't pay those players?
7. It will be interesting to see if the players are paid according to the league guarantee.
As a result of a potential player walkout over the league being one week late with player payroll, Midwest Professional Basketball Association ownership has made the decision to terminate the remainder of the St. Louis RiverSharks’ season and, as a result, disqualify the team from playoff contention.
“It’s the end of the season and we had a cashflow shortage,” said C. Edward “Ed” Schumer, commissioner of the MPBA. “Three other teams were in the same position, and we guaranteed the players on all four teams that they would be paid the amount they were behind, as well as what they were scheduled to make the rest of the season.

“We do not know why it was only the St. Louis team that chose to consider walking out. The other teams were good with the arrangement that we would get caught up by the time they were due their final checks,” Schumer said.

Return to “Men's Basketball”