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SBD Global/September 7, 2012/Leagues and Governing Bodies
Chinese Basketball May Implement A Salary Cap To Take Hold Of Foreigner Spending
Published September 7, 2012
SECOND CHANCE: REUTERS' Alastair Himmer noted that in '09, monthly pay for foreign players was capped at $60,000 and $44,000 for Chinese players, with the exception of national team members. However, "a lack of supervision over implementing the rules and subsequent penalties for those dodging the guidelines doomed the CBA's first attempt at a cap." The Xinjiang Flying Tigers and Zhejiang Golden Bulls paid millions of dollars for NBA players such as Kenyon Martin and J.R. Smith respectively in last year's off season. The deals "ended in losses for both clubs, financially and on the court." Bai said that the salary cap was proposed by four owners during a meeting last week "and welcomed by others." Yuan said, "We can't let the rich clubs gather all the good players and make it a negative circle. That's no supposed to happen in a mature, healthy league." Smaller clubs have felt forced to "dig deep to sign foreign players in order to compete" against other CBA teams "and say enough is enough." Bai: "Clubs are the foundation of our league. We have to make sure each of them develops in a healthy fiscal condition" (REUTERS, 9/6).