Snakes in administration
CAIRNS' National Basketball League club the Taipans has been placed into the hands of an administrator.
Administrators were called in to take control of the struggling privately-owned team on Monday night.
Players and staff were told of the decision this morning and the club's owners and directors, John O'Brien and Juanita O`Brien, are fronting a media conference now along with former director Luis Garozzo.
It is unknown at this stage if the Taipans will take to the court again.
The club, which is celebrating its 10th year in the league, has been at the centre of intense speculation about its future since chief executive Denis Keeffe went public last month to warn that The Taipans' financial position was so perilous he was unable to ensure a long-term future.
He said the club was losing "hundreds of thousands" of dollars each season.
Two weeks ago, Mr O'Brien responded to the speculation - including allegations the club was behind in payments to its playing venue, the Cairns Convention Centre - by stating the financial position of the private business was the concern of no one but him and co-owner Mr Garozzo.
"It`s got nothing to do with anyone else. I'm not doing it because I love basketball, I`m doing it for the benefit of Cairns," Mr O`Brien said.
After a promising start, the Taipans have slumped to their worst losing streak since debuting in the NBL.
Having compiled a roster they felt could help them push further into the playoffs than they have ever been, the Taipans are second-last on the competition ladder with a 6-12 record.
cairns.com.au will keep readers updated on the Taipans story during the day. See tomorrow's The Cairns Post for a full wrap.
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