Well, it was expected really. After FIBA Europe’s decision to include 24 teams in Eurobasket 2011, Israel (who qualified through the groups) is now asking their money (team expenses) back from FIBA Europe.
According to Israeli Basketball Federation they spent around 2.7 million euros to go through the entire qualification groups process (from which the top teams and two best second would qualify, but instead FIBA Europe gave wild cards to pretty much all teams).
Israelis now say that while they spent 2.7 million euros for players wages and bonuses, for travelling and Nokia arena rent they income from TV rights and ticket sales revenue was less than 1.7 million euros.
And rightfully so they are asking from FIBA Europe to compensate that one million euros they spent for nothing, at the end of the day.
This is the second financial blow to FIBA Europe, as Lithuania, host of Eurobasket 2011 declared that they will not cover the hosting expenses of the extra 8 teams, but that only those of the original 16 teams who would be taking part as initially planned.