PBA Salary Cap Increase, Approved

The PBA Board of Governors unanimously approved the increase of the salary cap for teams and the maximum individual salary for players in a special meeting on Thursday.
League commissioner Chito Salud disclosed the details of the measure to InterAKTV shortly after the meeting.
“The board has agreed to increase the maximum salary of players from P350,000 to P420,000 a month, or a 20-percent increase,” said Salud.
The commissioner clarified, however, that the increase in the max salary wouldn’t lead to an increase in pay for players who were already receiving the max.
“That’s subject to a negotiation between a team and a player,” said Salud.
The annual salary cap for each team was also increased from the current P36 million to P42 million.

The board also voted to implement a standardized bonus scheme for each team, an initiative of league chairman Mamerto Mondragon of Rain or Shine.
Beginning the 37th season, bonuses for won games will be adjusted to P6,000 (from P4,000) for elimination round and quarterfinals games, P8,000 (from P6,000) for semifinals games, and P10,000 (from P8,000) for finals games.
Performance bonuses will also be adjusted, according to Salud.
Players whose teams make it past the elimination round and into the quarterfinals are entitled to receive a bonus of one-fourth of his monthly salary. For tournaments that do not have quarterfinal rounds, moving past the eliminations would entitle players to a bonus worth three-fourths of his salary.
For teams that make it to the finals, player will receive a bonus of one-and-a-half months of his salary.
However, players of championship-winning teams may receive uncapped bonuses at the discretion of their team. PBA franchises have been known to give out rewards such as international trips, cars, and corporate shares to players who are part of title teams.
The move to increase the salary cap and standardize the incentive scheme comes on the heels of an outburst by Alaska owner Fred Uytengsu last week decrying the lack of a level playing field in the PBA. In a news conference, Uytengsu alluded to the common perception that players are being paid more than the monthly amount allowed by the PBA.

source:
http://www.interaksyon.com/interaktv/