Basketball Association Faces Over NT$50 Million Financial Hole; Minister Urges Leaders to Tackle Debt

The Chinese Taipei Basketball Association (CTBA) is in turmoil following its recent election, with a series of issues plaguing the organization. After controversies surrounding registration errors and disputes over the Jones Cup format, the association is now reportedly facing a significant financial crisis.

Media reports reveal a financial black hole exceeding NT$50 million (approximately $1.5 million USD). Adding to the disappointment, the newly elected chairman, Ku Kung-i, has reportedly only donated NT$500,000 towards resolving the deficit.

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Besides the CTBA, other associations also have room for improvement in their finances. The Sports Administration will require associations to conduct thorough expense verification, and their financial control and autonomy need to be enhanced. The Sports Administration will continue to assist all associations.

Sports Administration Minister Lee Ming-chung acknowledged the financial challenges, stating that not only the CTBA but also other sports associations have room for improvement in their financial management. He emphasized the need for stricter expense verification, enhanced financial control, and greater autonomy within these organizations. The Sports Administration is committed to assisting associations in these areas.

Lee also highlighted the importance of association chairmen and secretaries possessing a strong resolve to repay debts, drawing parallels to the financial struggles faced by the Chinese Taipei Football Association in recent years. He stressed that associations must rely on the fundraising capabilities of their leadership and urged current leaders to manage finances effectively.

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This point is very important, and I hope the current chairmen and secretaries can manage well. The Sports Administration will also continue to improve and guide the associations.