SBD Global/April 4, 2014/Finance

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  • South Korean Football Clubs Say Publicizing Pay Is Bad For Budget

    The Korean Professional Football Federation’s announcement earlier this week that "it will make some players’ salaries public has caused controversy among clubs and athletes," according to Kwon Sang-soo of the KOREA JOONGANG DAILY. The football federation said that "it will require teams to go public with players’ salaries, especially those of each club’s top-five earners." A spokesperson for the federation said that "the group is currently trying to decide which details of the players’ contracts it will publicize, but the plan will likely be finalized in the middle of the month." However, clubs "are worried that public disclosure of contract details would impact their ability to plan their annual budget." K League side Bluewings Manager Yoon Sung-hyo said, “This is nonsense." Despite clubs’ complaints, "the football federation is not budging on its plan, saying salary disclosure is essential for improving Korean football" (KOREA JOONGANG DAILY, 4/3).

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  • Spanish Basketball League Side Manresa Launching Sale Of Club Shares To Raise Capital

    Spanish Basketball League (ACB) side Manresa launched a campaign to raise €600,000 ($823,000) through a sale of club shares, which will cost €60 ($82), according to the EFE. Despite "budget reductions for ACB teams due to Spain's economic crisis that allowed the club to finish the season with a surplus, this did not make for a reduction in its debt." After the "latest budget cuts," the club's debt is greater than its annual budget, "which makes day-to-day finances difficult." The club's last capital increase campaign took place in '08, when it raised €480,000 (EFE, 4/3).

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