FORT WAYNE, Ind. -- The head of the Continental Basketball
Association says All-Star week may be just the time to complete a
long-pending deal for the league because "we're not playing."
On the other hand, if no deal is in place by Friday, when the
three-day break ends, another line of credit must be secured to
keep the 55-year-old league operational, league President Don Welsh
told The Journal Gazette of Fort Wayne.
Only two of the league's 10 teams made their payrolls last
Friday. The Sioux Falls Skyforce managed to pay its players by
dipping into the team's individual bank account.
"The league is running on fumes," Skyforce general manager
John Etrheim told the Sioux Falls (S.D.) Argus Leader.
Welsh said letters of apology were sent to more than 200 CBA
employees, who had been promised they would be paid by Wednesday.
"Some of (making the payroll) was kind of contingent on the two
investment groups consummating the sale faster than what has
occurred," Welsh said.
The International Basketball League and the NBA Players
Association reportedly have submitted offers to buy the league, but
no agreement has been reached.
Mike Barham, chief operating officer for the Connecticut Pride,
said the missed payroll and the cloudy future of the CBA have
created some uneasiness but that the free flow of information has
been calming.
"They understand that this is just part of the buyout
process," Barham said. "We all understand that this is just part
of the business end of things."
Welsh said he remained confident that a sale will be completed
this week but acknowledged time was running out.
"I don't think there is any denying we are in a critical stage
right now to, No. 1, complete a sale or, No. 2, to establish the
next line of credit and financing for the league.
"It's that simple," Welsh said. "Realistically, if things
drag out, we are susceptible to losing people."
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