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The Eastern Canadian Basketball League (ECBL) will end regular season play early on May 21, in an effort to restructure and return stronger in 2024.
The inaugural ECBL Championship Shootout Tournament will be played May 26-28 with details to be announced soon.
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League CEO and owner Ravi Verma said the decision to conclude the regular season was a difficult one, and it was not made lightly. The Bathurst Bears, Charlottetown Power, Moncton Motion, Saint John Union, Truro Tide and Valley Vipers competed in the ECBL this season.
“We have examined several different scenarios in an effort to save the season for our players and our fans,” Verma said. “We expect the championship tournament will be the start of our bright future.
Higher-than-anticipated costs and lower-than-forecasted revenues left the league with serious financial challenges.
“We are very grateful for the support we have received from our corporate sponsors, season ticket buyers and the fan base,” Verma said. “They give us hope for the future.”
In order for professional basketball to work in the Maritimes, the league needs to restructure and change the way it operates so it can come back stronger and more secure in 2024.
“The future looks bright,” Verma said. “We are going to work every day to create a stable league for everyone to enjoy.”
Current season ticket holders and sponsors will be offered reduced rates for next season, as well as two Championship Shootout ticket packages.
Verma said other municipalities have expressed interest in joining the league next season.