The Day One Jumpers, a professional basketball team that has been plagued by financial difficulties since its inception, has received the first-ever “expulsion ending” in Korean professional basketball.
The KBL made the final decision to expel Goyang Day One at a general meeting held at the KBL Center in Gangnam-gu, Seoul on the morning of the 16th.
KBL President Kim Hee-ok said, “We have finally confirmed that the team does not have the intention and ability to run the club normally,” and explained the reason for the expulsion by saying, “Rather than resolving financial issues such as salary arrears, the team has been consistent with false and irresponsible attitudes.”
Day One, which took over the Goyang Orion professional basketball team after the end of the 2021-22 season, has been plagued by various controversies since its first season, including late payment of membership fees and unpaid wages for players and home game management.
The organization, whose parent company is Daewoo Shipbuilding & Marine Engineering, started out as the Goyang Carot Jumper with Carot Insurance (parent company Hanwha Insurance) as the naming sponsor, but Carot Insurance’s financial situation was also tight for the first time in the KBL.
The 1.5 billion won subscription fee was barely paid in installments, and even that was either overdue or paid on the chin. In addition, the team was unable to pay the salaries of the players and staff, which hindered their livelihood.
Late last month, the KBL’s board of directors gave Day One an ultimatum to “resolve all debts, including player wage arrears, by June 15.”
But with no new buyer for the team and the chairman of its parent company, Daewoo Shipbuilding & Marine Engineering, Kim Yong-bin, in jail on embezzlement charges, the team was effectively disbanded. The team also failed to resolve its financial issues by the 15th.
On the 14th, the players appeared in person at a press conference at the National Assembly and urged the KBL to “take responsibility and pay their salaries using the 1.5 billion won in subscription fees and broadcasting revenue received from Day One.” They also pleaded, “We hope that no players will retire due to this situation.”
In response, the KBL said, “We will protect all 18 players of Day One,” and said, “Considering that Busan City has strongly expressed its intention to attract a men’s professional basketball team, we will first actively discuss follow-up measures with Busan City, including the search for a new acquisition company.”
Park No-ha, CEO of Day One Sports, said in a statement on the 16th, “We apologize for causing great damage to the entire team, including CEO Heo Jae, captain Kim Kang-sun, and player Jeon Sung-hyun, who chose a new path by trusting me and Chairman Kim Yong-bin of Daewoo Shipbuilding & Marine Engineering, due to the parent company’s bankruptcy and immature operation.”
“We also apologize to KBL officials, professional basketball fans, and players,” he said, “and we apologize to Day One fans for the inconvenience caused by the team’s inability to operate normally.”
With the dissolution of Day One, professional basketball, which has maintained a 10-team system since the 1997-98 season, is likely to operate a season with nine teams for the first time ever.
If a team with ties to the city of Busan succeeds in creating a franchise, the 10-team system can be maintained.토토사이트
However, if it fails, the KBL will hold a special draft on July 21 for the 18 players released from Day One. The special draft will be conducted by selecting two players per team with equal probability, and will be exempt from the salary cap and enrollment limit for the 23-2024 season only.
Meanwhile, the KBL is expected to hold Park and Heo Jae responsible for the situation.