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+--- Thread: Financial Crisis Hitting Euroleague Hard (/thread-1476.html)
Financial Crisis Hitting Euroleague Hard - kobimel - Mar 7, 2009
Quote:One year ago the Internet was popping with speculation of $30 million to $50 million salaries in Europe for LeBron James and Kobe Bryant. One year later and the reality is sobering: European basketball is suffering in ways that appear foreign to the NBA.
Players at a number of European teams are receiving their paychecks behind schedule, and some clubs are in danger of not meeting payroll. But that's not the real story.
"The biggest problem is that the agents aren't collecting their fees," said one of the many NBA executives who study European basketball. "Think about it: If a team is struggling to make ends meet, the team is going to pay the players first and worry about paying the agents later."
In the NBA, the agents are paid by players. In Europe, however, agents receive their commissions directly from the clubs.
<!-- m --><a class="postlink" href="http://sportsillustrated.cnn.com/2009/writers/ian_thomsen/03/05/europe/" onclick="window.open(this.href);return false;">[url="http://sportsillustrated.cnn.com/2009/w"]http://sportsillustrated.cnn.com/2009/w[/url] ... 05/europe/</a><!-- m -->
Pretty good article, makes some good points. This summer will be intriguing in the transfer market aspect.
- forum troll - Mar 8, 2009
What's hilarious is that the NBA is ten times worse financially right now.