How to prevent bankruptcy?
The finance is a long-term management.
Like Rome is not built in a day, teams won’t go bankruptcy suddenly.
I would suggest new managers first read this article.
https://www.basketpulse.com/tw/Press/19696708/read
It may not be the best in practice but cover most basic knowledge for new managers.
Keep your team in a healthy financial situation is the best way to prevent bankruptcy.
If unfortunately, for any reason, your team is going to broke in a week or two, I would suggest just let it go and take the chance to rebuild your team.
There are few things can turn the tide in short term.
Donating Darius a pizza or two may help but it’s should not be a common practice.
Sometimes teams may encounter a large increase in expense or decrease in income.
For example, the star players signing a new (and expensive) contract, or the team degrading from higher league.
I may take a few actions to get through it.
First, in the previous season, try to save as much money as possible.
As long as you have enough money, you won’t be broke.
Second, prevent signing too many players and coaches with high salary during the limited market and draft.
And third, after the new season begins, trade expensive players for cheaper ones, or just fire them.
Besides the player/coach salary, one could also cutoff the spending on scout and sectors to further reduce the expense.
Last but not least, NEVER EVER scout old players, especially for new managers.
They are very expensive and may crash your team’s finance.
Imagine a WL 6 team with about 26k sponsor income find a 24Y youth(?) requiring 20k salary.
The above are my opinions about preventing bankruptcy.
Hope this article could help people to keep their teams away from bankruptcy.
The finance is a long-term management.
Like Rome is not built in a day, teams won’t go bankruptcy suddenly.
I would suggest new managers first read this article.
https://www.basketpulse.com/tw/Press/19696708/read
It may not be the best in practice but cover most basic knowledge for new managers.
Keep your team in a healthy financial situation is the best way to prevent bankruptcy.
If unfortunately, for any reason, your team is going to broke in a week or two, I would suggest just let it go and take the chance to rebuild your team.
There are few things can turn the tide in short term.
Donating Darius a pizza or two may help but it’s should not be a common practice.
Sometimes teams may encounter a large increase in expense or decrease in income.
For example, the star players signing a new (and expensive) contract, or the team degrading from higher league.
I may take a few actions to get through it.
First, in the previous season, try to save as much money as possible.
As long as you have enough money, you won’t be broke.
Second, prevent signing too many players and coaches with high salary during the limited market and draft.
And third, after the new season begins, trade expensive players for cheaper ones, or just fire them.
Besides the player/coach salary, one could also cutoff the spending on scout and sectors to further reduce the expense.
Last but not least, NEVER EVER scout old players, especially for new managers.
They are very expensive and may crash your team’s finance.
Imagine a WL 6 team with about 26k sponsor income find a 24Y youth(?) requiring 20k salary.
The above are my opinions about preventing bankruptcy.
Hope this article could help people to keep their teams away from bankruptcy.
