We've certainly heard enough lately about how challenging economic times could lead to some real difficulties for NHL teams, but what's happening in Russia with the Continental Hockey League takes that sort of turmoil to a whole new level.

Players aren't getting paid, staff members are receiving sharp pay cuts and at least one team could potentially fold within the next month.

In an article published Saturday, Russian publication Sport-Express interviewed every KHL club to assess how they are coping with sudden financial constraints given the declining price of oil and generally dire economic conditions in a league that is heavily subsidized by corporate sponsorship dollars.

The club reported to be under the most financial difficulty at the moment is Metallurg Novokuznetsk, which was the only team that refused to speak to Sport-Express for the story. The team's main sponsor, Evraz Group, a steel giant that is under tremendous strain due to the what's happened with the resource-based economy, has backed out of financing the team and there is the possibility the club will not play in the KHL after Jan. 1.

Other teams experiencing issues include HC MVD, Khimik Voskresensk, Vityaz Chekhov and Metallurg Magnitogorsk.

Other than Magnitogorsk, a relative powerhouse backed by that city's steel giant, all of the "troubled" teams are low down on the league's salary scale and already at a major disadvantage.

A rundown of some of the issues:

HC MVD's CEO said there have been delays in paying players and that the crisis has "really affected our team." He added that their sponsor, VTB Bank, will honour its obligations, however.

Khimik Voskresensk is behind on player payments. Vityaz Chekhov's CEO said the team's "new main task" is to save the team and meet its financial obligations to players and staff. Metallurg Magnitogorsk said it is paying its players on time, but all staff members have had their pay cut by about 30 per cent.

Twelve teams, half of the league, were reported to be in fine health, but there is talk among many teams of lowering the KHL's salary cap.

Russia's economy in general is in a tough spot at the moment, battling its worst economic crisis since the country's financial collapse in 1998:

Russia has burnt a hole in its vast international reserves by shoring up the flagging ruble and providing support to the weakened banking system and the economy. Its stock markets have lost more than two-thirds of their value.

Only when October numbers came out were economists able to get a handle on the extent of the crisis. A dismal set of statistics revealed that industrial production grew by just 0.6 percent from a year earlier and retail sales grew at their slowest rate in two years. Wage arrears rose by 33 percent, while unemployment rose to a seven-month high of 6.1 percent. The Federal Labor Service said that companies plan to lay off around 200,000 staff over December and January, while the real figure is expected to be much higher.

And if oil remains at $50, Goldman Sachs says Russia could see zero growth next year.

Between this, the Alexei Cherepanov tragedy and the league's dispute with the NHL over honouring contracts, it hasn't been a pretty first year for the KHL. I'm surprised we haven't heard of any North American players leaving Russia midseason given some of what's gone on.