Sheffield Sharks bosses have pledged that the club will weather its current financial problems despite the impact spilling over onto the court.

The Yorkshire outfit have been ordered to de-register players on a number of occasions as a punishment from British Basketball League for falling behind in their contribution to the payments for screening the domestic game on Sky Sports.

MVP has learnt that the cash crisis has been caused by the withdrawal of a planned investment in the club, understood to be from an American-based corporation.

The issue was discussed at the BBL’s board meeting on Tuesday, days after Sheffield’s player-coach Atiba Lyons was forced to sit out the Trophy semi-final against Newcastle.

And Sharks officials are now confronting a gap in their budget which must be filled to fulfil their commitments.

“There was due to be significant funding coming in,” general manager Sarah Backovic revealed. “We’ve now incurred measures from the league but we’ve met with them to rectify the issue.

“(Losing the investment) was a big knock but we’re putting all our focus on making the right business decisions going forward.”

British Basketball League chiefs have refuted suggestions that Newcastle Eagles owner Paul Blake – who is also chairman of the BBL – was involved in the decision to order the de-registration.

In a statement, it said: “In accordance with the BBL regulations, the Chief Operating Officer has sole responsibility for decision making related to the implementation of the regulations in regard to the BBL Competitions, or any regulation associated thereon, other than the setting of the Competition formats which is determined by the Member Clubs.”

Lyons, who has been banned for the second leg of the Trophy clash, could face further personal sanctions after his comments on Twitter – criticising both the league and its referees – were placed under investigation.

However it is not expected that additional players will be barred from Friday’s tie on Tyneside with Jimmy Langhurst, who has now received a formal UK work permit after his initial visa ran out, cleared to feature.

It is one boost for the Sharks, who went under a change of ownership two years ago. But there is tough work ahead, Backovic confirmed.

“Realistically we want to fight our way through this season and then re-focus,” she said.

Reinking set for London

Quick comeback for Reinking (MAP Photos/BB)

Fears that Nate Reinking will miss the Olympic Games have eased after it was confirmed that the Great Britain shooting guard is expected to return to action within 3-4 weeks.

Reinking, who suffered a partial tear in his MCL last month while playing for Sheffield, is undergoing rehab but will not have surgery.

The veteran is currently being advised by British Basketball’s medical support staff.

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