The Euroleague Basketball management has approved changes to the financial rules and the introduction of restrictions on players’ salaries, the league’s press service reports.
Full implementation of the updated financial rules is planned for the 2027/28 season and will take place after a transition period starting in the 2024/25 season.
Two levels of salary cap will be set at 40% and 60% of average annual income for two seasons. The cap does not take into account the salaries of the club’s two highest-paid players. If one of the levels is exceeded, clubs will have to pay a luxury tax.
At the same time, the new rules provide for many exceptions: contracts of players under 23, contracts of injured players of more than two months, 25% of the salary of players with more than three years of experience in the club, and so on will not be taken into account under the cap.
In addition, the so-called basic level of remuneration was introduced – 32% of the average annual income for two years. Clubs will have to spend at least 32% on salaries, with teams without an A license having the opportunity to spend a lower amount.
The Euroleague Executive Board of Shareholders suspended Russian clubs from participating in the tournament in March 2022 due to the conflict in Ukraine.
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Source : MatchTV
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