Croatian Basketball Club Selling Name for €1.2M

KK Zadar, a famous Croatian professional basketball team playing out of the Dalmatian city of Zadar, has found a novel way to get out of debt – they have put their name up for sale, reports Zadarski news portal.

The decision is sure not to go down well with the club’s large fan base, but the club is in debt to the tune of around 3 million euros and needs money fast. The 6 time Yugoslav and 2 times Croatian champions have 119 days to come up with the cash or face bankruptcy.

The club is offering the name for around 1.2 million euro to any person or company that wants to carry their name. It is not the first time the club has been in this situation. In the 1990’s the club’s board strongly rejected a proposal to sell its name.