WHAT IS THE DEAL WITH NBA PLAYERS GOING TO EUROPE? HOW DO THE EURO TEAMS FIND SO MUCH MONEY?
Fri, Jan 15, 2010
If they are dishing out about 8 mil per year to questionable NBA starters like josh childress (euro teams pay the player’s taxes), is Europe really that basketball crazy in terms of fans, or are the owners just super rich like the European football leagues? I do not see how they can afford to pay that much.
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Tags: deal, Euro, Europe, find, going, money, much, players, teams
no salaray cap for 1. most of the organizations partner with a soccer club therefor making it a broader enterprise and franchise
Good answer darin but it’s true, those european teams have money, we’re just not as familiar with those teams as we are with the american teams. I just recently started to familiarize myself with them. If I was a lower tier player and someone wanted to throw big bucks at me, I would certainly take it.
Here’s the thing about euro teams. Most leagues only allow a certain amount of American players. The top Russian league only allows 2 per team. Many of the euro born players make something like 500 k per year unless they are really good. There is a salary cap for many euro leagues but they are also able to trade between leagues like soccer teams are. On top of that, they are backed by corporations like Phillips and have a never-ending supply of money to bankroll teams. Seriously, have you ever watched a euro game? The stands are only about 1/3 full. It’s a corporate write off for taxes. Often times instead of money, companies offer other perks like housing, paying taxes, private chefs, and a car and driver, which they can write off as tax deductions.
It is still high quality basketball, but mostly it’s a tax write-off for major international corporations. Because Benneton needs more money?