Liga Endesa / ACB announced on its official website that Bilbao Basket will not be competing among elite Spanish teams next season.

The team failed to meet financial requirements established by the league, among them failure to pay entry fee.

Bilbaos’ debts exceed 15% which is the maximum allowed by the league. Former players are already making claims to recover debts from the club.

The General Assembly will decided whether to keep Bilbao’s spot vacant for the upcoming season or to fill it with another team, in which case a competition shall be organized.

It was just a few years ago that Bilbao reached Liga Endesa finals and earned the club a spot in Euroleague. Bilbao’s season in Euroleague was also successful as the team went on to reach quarter-finals.