Depression in Iceland has an Influence on Sports

Because of financial problems in Iceland all the contracts of foreign football and basketball players has been torn up.

The reason for that is because the foreign players have higher wages than Icelandic players, and because of the depression in Iceland.
Now the wages of foreign players are getting higher than before. For example, the foreign player had 200,000 króna for the month And he is getting now 400,000 króna for the month. This example is for players who come from US. Like the US dollar was 60 Icelandic kronur like 3 month ago and now it‘s 125 Icelandic kronur. So because of that all of the Icelandic football and basketball clubs that have have foreign players had to tear up their contracts.

Denis