A journalist for sportsillustrated.cnn.com was in Athens to write an article regarding the consequences of the financial crisis on Greek basketball. The article’s title is “Greek Basketball League Crumbling Amid Country’s Financial Crisis.”
His conclusions are rather disappointing. Ken Maguire of SI.com spent a few days in Athens in an effort to report on how the economic crisis has affected the beloved sport.
“It’s fitting that the tragedy of a basketball team called ‘Maroussi’ played its final road game of the season in a town called ‘Drama.’ Nearly broke, Maroussi chartered a bus for the eight-hour ride because it couldn’t afford airline tickets. Maroussi lost by 38 points, slipping to 1-22 in the season. Its starting power forward didn’t make the trip. Injured? No. Hung over from clubbing? Uh-uh,” is the opening paragraph of the article.
The journalist then explains how the nearly bankrupt team has forced “amateurs from the junior squad into action after many of the professionals quit.” One of the best players is still a high school student, and couldn’t make it to the game as he had to prepare himself for exams. The rest of the players quit for not being given their salaries.
Pointing out that Maroussi is only a typical example, the article continues saying that “Greece is the epicenter of the European economic crisis, and with the country’s economy in shambles, the Greek professional basketball league, once considered the best in Europe, is deteriorating. The all-star game was canceled to save money. With more government cuts looming, there’s concern that revenue from state television will significantly diminish.”
Compared to other countries, the disputes in Greece “have led to the biggest number of sanctions being imposed for a failure to [pay players],” Benjamin Cohen, FIBA’s legal affairs manager, said in an e-mail to SI.com.
The article contains statements with statements from Greek basketball executives and players, such as Maroussi’s former point guard Yannis Gagaloudis, Costi Zombanakis, team manager Kostas Katsanos, player Vassilis Spanoulis, and others expressing their view on Greek basketball’s situation.
A special reference is made to the Josh Childress contract from Olympiacos in 2008 which “seems inconceivable today.”
The article continues, “in the financial crisis, spending play money is a luxury most can’t afford. Some owners make their living in industries like shipping, pharmaceuticals and construction – all hit hard by the crisis.”
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