Professional baseball LG pays KRW 1.2 billion in baseball development fund due to excess salary cap
Professional baseball LG pays KRW 1.2 billion in baseball development fund due to excess salary cap
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▲ LG Twins Players in Professional Baseball
The LG Twins of professional baseball have become the first club to pay a baseball development fund over the salary cap (annual salary limit).
According to the total amount of the top 40 annual salary for each club in 2024 announced by the KBO Secretariat today (18th), LG recorded KRW 13.85616 billion, exceeding KRW 2.429.78 billion compared to the upper limit of the competitive equal tax.
Therefore, LG has to pay 1.21 billion won, half of that amount, to the Baseball Development Fund.
Since last year, KBO has introduced salary cap and competitive equal tax system.
In 2021 and 2022, 120% of the club's annual average, or 11.426.38 billion won, was capped, and all 10 clubs did not exceed this amount in the 2023 season when the system was first applied.
If the upper limit of the competitive equal tax is exceeded, 50% of the excess will be paid to the baseball power generation fund, and if it exceeds the upper limit of the competitive equal tax for two consecutive times, 100% of the excess will be paid to the baseball power generation fund.
In addition, the first round of nominations for next year will fall by nine levels.
If you exceed three consecutive times, 150% of the excess will be paid to the Baseball Development Fund, and the first round of nominations will be lowered by nine levels next year.
Except for LG, other clubs did not exceed the upper limit of KRW 11.426.38 billion this year.
KIA Tigers came in second with 11.249 billion won and Doosan Bears came in third with 11.19436 billion won.
Doosan spent the most money at 11.18 billion won in the 2023 season. 온라인카지노
Samsung Lions ranked fourth to sixth with 11.18 billion won, Lotte Giants 11.15 billion won, and Hanwha Eagles 10.71 billion won.
7th to 10th place is kt wiz 10.51 billion won, SSG Landers 10.457 billion won, NC Dinos 9.47 billion won, and Kiwoom Heroes 5.67 billion won.