Russian women’s team CSKA Moscow in jeopardy of folding

WNBA players with plans to play overseas this winter may face the unfortunate prospect of squads in economic turmoil. Women’s basketball team CSKA Moscow announced today that although it is premature to say the team will cease operations, they are currently seeking more sponsors and avenues of financing to keep the team afloat. WNBA players on CSKA Moscow include Janel McCarville, Becky Hammon, Edwige Lawson-Wade, Ann Wauters and Katie Douglas.

A rough translation of the team’s announcement:

JBK CSKA officially confirms that the club is in a difficult situation.

At this time the there are not enough sources of funding due to the global financial crisis, but it is premature to say that the team has ceased to exist. Management of the club is considering various options for partnership with the sole purpose of retaining control of  CSKA.

In 2008 Hammon (pictured right), who has a Russian passport, signed a three-year extension with CSKA. The deal would pay her $2 million over four years.

Other Russian teams including Dynamo, Khimki, Triumph Lyubertsy and CSK VVS have had financial troubles. Players felt the brunt when several teams delayed or did not pay salaries last season.

Last season’s CSKA squad:

Janel McCarville (New York Liberty)
Catherine Lisin – signed with Mizo (Hungary)
Olga Arteshina
Rebecca Hammon (San Antonio Silver Stars)
Edwige Lawson –Wade (San Antonio Silver Stars)
Alexander Gorbunov
Ilona Korstin – signed with Spartak
Ann Wauters (San Antonio Silver Stars) – signed with UMMC
Elena Danilochkina
Ludmila Sapov
Katie Douglas (Indiana Fever)
Anna Petrakova

Update: The team folded this morning. Russian players were informed of the decision during practice. “This was a big blow for us,” said Anna Petrakova to sports.ru. “The girls could not hold back her tears.”