Bankruptcy DSB hurts U.S. Speedskating

The DSB is a Dutch bank whitch is declared bankrupt by the Dutch court. It collapsed this week, which followed a run on deposits and the government's refusal to provide a capital infusion. The DSB was besides a bank also a big sponsor of U.S. Speedskating. This organization lost his biggest sponsor and has now a shortfall of $300,000 and has to come with a financial plan for 2009-2010.

U.S. Speedskating builds the team that represent the U.S. at the Olympic Games. The DSB was the biggest sponsor of this sport since 2006. "DSB Bank has been an excellent partner for US Speedskating and has allowed us to provide excellent service for our athletes,” Brad Goskowicz, U.S. Speedskating's president, said in a statement on the Los Angeles Times. "It is our mission to ensure our U.S. Speedskating Olympic Team has everything they need to be successful and we will continue toward that end. The impact will be seriously felt and we will be seeking additional sponsor opportunities." I think that it is a leck of the organization that they are depended on one big sponsor, unregarded the excellence of the sponsor. You should not bet your money on one horse.

Because of the economic uncertainty the sponsorship money dropped significantly, according to the Los Angeles Times. But the organization is hopefull in finding new financial partners. Companies can attach themselves at very low costs and speedskaters are real contenders for winning a record of medals on the Olympics. So hopefully there will be new financial partners whom are not affraid to invest during a financial crisis.

Although, I think that U.S. Speedskating is in big trouble. Because of the low costs they will offer, it will be a long way to fill up the $300,000 shortage. Hopefully U.S. Speedskating will have more than one big sponsor, but I think they will have to take every amount of money that is offered from any kind of partner.
It's sad that a sport suffers from the financial crisis. But sports are universal so as my last statement I would ask the Dutch government to give the capital infusion that's left to U.S. Speedskating for making it healthy again. Because sports should be healthy, right?