The Ljubljana-based basketball club was once the pride of Slovenian basketball. It was the champion of independent Slovenia 15 times, it won the national cup 19 times and was once also victorious in the ABA League. The dragons from Ljubljana were also competitive in the Yugoslav championship – at its time the most powerful basketball league in Europe. Olimpija Ljubljana was a six-time Yugoslav champion. In the past it was twice third in Europe (1967 and 1997) and also won the European Cup in 1994.
The club has now reached the lowest point in its long history. It has been seven years now since its last Slovenian championship title. For two years in a row it hasn't even been close to winning the title. This year it was eliminated in the semi-finals and last year in the quarter-finals.
A settlement would enable survival
The club's results were put aside in order for the club to financially recover. However, it is now clear that the club’s efforts have been unsuccessful. The management had no easy task and has thus failed to provide the desired results. The Ljubljana district court has issued a decision enabling the commencement of a procedure for a simplified compulsory settlement, initially proposed by the club. The procedure would enable the survival of the once renowned European club. Club director Matevž Zupančič said the procedure is a way of allowing the club to continue functioning. The club is otherwise under suspension due to a transfer debt for Alen Omić and is therefore not allowed to register new players...
There are 213 creditors
On the 31.03.2016 claims addressed to club amounted to 2.035.038,70 euros – the amount for which a compulsory settlement procedure is proposed. There is a total of 213 creditors. The club owes more than 1.000 euros to 139 of them, and more than 10.000 euros to 38 creditors. The highest debt stands at 360.000 euros, which the bank owes to a bank because of loan. The second biggest creditor is Slovenia's Financial administration (FURS) to which the club owes 187.680,53 euros.
Among the creditors are also Andres Rodriguez, a Puerto Rican point guard, who played in Ljubljana 11 years ago. After a court settlement the debt to the Puerto Rican now stands at 10.000 euros. From previous seasons among the creditors are also Kenny Gregory, Vlado Ilievski, Jaka Brodnik, Halil Kanacević, Memi Bečirović, Aleš Pipan, Kodi Augustus, Jakov Vladović, Casey Mitchell, Paolo Marinelli, Jaka Klobučar, Sasu Salin, Deon Thompson, Klemen Prepelič, Hristo Nikolov, Marko Marinović, Gezim Morina, Erjon Kastrati, Jan Močnik, Alen Omić ...
