10 Dec 2008

Taipans could become 4th team this year to drop out of ANBL

6:01 pm on 10 December 2008

The Cairns Taipans are on the verge of becoming the fourth team this year to drop out of the Australian National Mens Basketball league for financial reasons.

In the latest shock for the league, the Taipans major sponsors Pacific Toyota have announced they can't afford to fund the team any longer because of the impact of the global recession on the car industry.

A decision on their continuation in this season's competition is needed by tomorrow, and it's likely the club will eventually fold. They're second to last in the competition after seven straight losses.

The Sydney Kings, Brisbane Bullets and Singapore Slingers all dropped out of the league earlier this year because of financial woes.

And the league newcomers Sydney Spirit were able to keep their season alive only when their players agreed last week to a 50 percent paycut.