European club hockey championship cancelled due to money shortage 16/06/2009 |
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Ice hockey's European club championship has been cancelled next season because of financial problems. The International Ice Hockey Federation said Monday that the Champions Hockey League would not be played but could return in 2010-2011, backed by the NHL.
"As the original investors unexpectedly withdrew from their three-year agreement after the inaugural season as a direct result of the worldwide economic recession, and given the current economic environment, we believe it is better to take the necessary time and ensure conditions are right for the continuation of the league in 2010-2011," said IIHF president, Rene Fassel.
The governing body had set a June deadline for the NHL to invest and save next season's competition.
"The format and infrastructure of the Champions Hockey League provide a good foundation for the growth of international hockey," said NHL commissioner Gary Bettman. "We have advised the IIHF of our willingness to offer resources and strategic contributions toward the pursuit of that objective."
The league was launched a year ago with Russian energy firm Gazprom as main sponsor and $15.6 million in prize money.
The inaugural championship was played with 12 teams from seven countries and was won by Swiss club Zurich.
An expansion to 22 countries had been planned next season.
(Source: cbc.ca)
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