Professional basketball Goyang Day One, which suffered from financial difficulties throughout the 2022-2023 season, was eventually kicked out of the KBL member company.안전놀이터
On the morning of the 16th, KBL held the 28th 6th extraordinary general meeting and board of directors meeting at the KBL Center in Gangnam-gu, Seoul, and decided to expel Day One from its membership.
KBL held a board meeting on the 31st of last month, and after about two hours of discussion, gave an ultimatum to Day One. It was notified to resolve various debts, including wages for players and staff officials, who had not been paid for the fourth month, by the 15th of this month, and to come up with a plan to operate the club in the future.
Day One was unable to pay off its debts, and could not come up with a solution to the club management plan in the future.
Article 12 of the KBL Articles of Incorporation stipulates that if a club is deemed incapable of running a club, it can be expelled with a 3/4 majority vote at the general meeting. As a result of 11 people exercising their voting rights, including 10 clubs including Day One and KBL President Kim Hee-ok, more than three-fourths voted for Day One’s expulsion.
President Kim said, “I judged that Day One had no intention or ability to run the club normally.” “Instead of resolving financial issues such as unpaid player wages, they consistently undermined the stability of the league with lies and an irresponsible attitude.” It is the first time since the launch of professional basketball that the club has
been expelled through the KBL general meeting.
President Kim said, “As the president who oversees the operation of the league, I am very sorry and regretful that I have encountered this situation at a time when professional basketball is taking off from a long period of stagnation and leaping forward again.” I can’t help feeling sorry for them,” he said.
[Seoul = Newsis] Reporter Kim Geum-bo = Head of Day One Jeong Kyung-ho is drinking at an extraordinary general meeting held at KBL in Gangnam-gu, Seoul on the morning of the 16th to decide whether or not to expel the Day1 basketball team. 2023.06.16.kgb@newsis.com
After the 2021-2022 season, Day One, which was founded by taking over the Goyang Orion Basketball Team, suffered from financial difficulties, such as delays in paying KBL subscription fees and non-payment of wages for players and club staff, from the first season when they entered professional basketball.
The 2022-2023 season was held by attracting Carrot Insurance as a naming sponsor, but the sponsorship contract was also terminated during the season due to negative issues.
Despite the difficult situation, Day1 performed well by advancing to the playoffs in the quarterfinals after finishing 5th in the regular season.
While Daewoo Shipbuilding & Marine Engineering, the parent company, was in financial difficulties, Day One contacted Pohang City and Busan City in North Gyeongsang Province to continue after the season, but failed to make progress as it struggled to attract sponsors.
A follow-up plan was also discussed at the meeting. KBL plans to follow up with the maintenance of the 10-team system and the 9-team system in mind.
KBL said, “We will protect all 18 players from Day One,” and “Considering that Busan City has strongly expressed its intention to attract a men’s professional basketball team, we will look for a new acquisition company with Busan City.”
If a suitable acquisition company does not appear, prepare for the 2023-2024 season with a nine-club system. In this case, KBL will conduct a special draft for all 18 players at the end of next month.
[Seoul = Newsis] Reporter Kim Geum-bo = Day One Jeong Kyung-ho (third from the right in the top row), the head of the Day One basketball team, is attending an extraordinary general meeting held at KBL in Gangnam-gu, Seoul on the morning of the 16th to decide whether or not to expel the Day One basketball team. 2023.06.16.kgb@newsis.com
The special draft will proceed with the same probability of nominating two players for each club. For the 2023-2024 season, exceptions apply to salary cap and registration capacity.
The date for the special draft was tentatively decided on July 21st. KBL added that the specific date may change depending on the progress of follow-up work.
After June 1st, KBL made a plan to pay the salaries of players who are struggling due to unpaid wages first and then withdraw them later. Considering the situation of the players who are struggling, we decided to lend an emergency living fund.
KBL plans to hold administrative and legal responsibilities corresponding to the current situation to Day One’s managing director Park No-ha and the owner and co-CEO Jae-heo, general manager of sports.
President Kim said, “We will faithfully push for possible measures so that Day One players can continue their careers in stable conditions.”