“If you consider global economic factors — the increasing price of energy and Russia having an economy so heavily dependent on that. Then, of course, the weakening dollar. Three years ago, 100,000 euros was roughly $100,000. Now, 100,000 euros is $160,000, without any other factors changing.”
The economy has taken affect on American business, in fact, its make our businesses more appealing to foreign investors because of the monetary exchange rate. When did you think you’d ever hear the dollar was lower than the Yen, Euro, and Pound? At any rate, the face of American business has changed and likely will continue until our economy recovers.
Two American players and at least five European players have bolted the NBA to go play in the Euro League. The reason for this seems to be purely monetary. Cash Rules Everything Around Me: C.R.E.A.M. get the money dollar dollar bill ya’ll…..
Brandon Jennings was supposed to be headed to Arizona State University to play for the Wildcats this upcoming season, but couldn’t pass his entrance exams to qualify for a scholarship. After failing twice he didn’t bother waiting to see what his scores were the third time—he made a proactive decision about his future. One that met with a lot of controversy. No other collegiate player with his skill-set has done the “unthinkable” and abandoned the NCAA with its out dated system.
Many feel that the NCAA pimps athletes whom bring in millions of dollars in revenue, yet many of them walk or ride a bike to class. Indeed, there is a growing majority who thinks they should PAY amateur athletes for their services. In my opinion, this might be the only way to end the status quo of American sports hegemony. I, for one, am against it. Players should be PAID! A stipend. Something!
Most of these elite athletes come from a program well celebrated in their local community. There practically celebrities, now you want this same kid who has been the big fish in a little pond to come to your program to bolster your BOOSTER & Alumni programs, in addition, to increasing televisions sponsorship (which means Boo-Coo $$$). Its criminal and is reminiscent of “prison work gangs,” whom work for cheap (free) labor!! Think about that!!!
Not to mention, the “letters of intent” are seen as a lottery of sorts. With most players opting for the big name programs that have sex appeal and the chance to build a legacy. Smaller programs in small markets are marginalized.
Moreover, the state of historical black colleges & universities (HBCU’s) have taken the worst hit. 30 years ago, all these players had to go FAMU, Howard University, Hampton, or Fisk. Now, these programs are struggling to survive, and forget about competing with Division I programs. No contest. To exploit athletes, then turn around & pilfer money on the backs of young adults is a cash cow for institutions of higher learning; though most athletes couldn’t even afford the opportunity to attend most of these schools unless its by scholarship. You know what happened “back in the day” (prior to integration) when U of Miami played FAMU? They were man-handled, dusted off, mocked and were barely competitive….Now, the history is reversed. SO, I’m glad to see karma manifest in this way to even the playing fields.
It makes a lot of sense from a economic stance why a player would forego the NCAA where players basically play for free. This guy wouldn’t earn a quarter for him self had he played in Arizona as an amateur, now as a professional he can get paid for his work. That’s economic justice!!! Get yours Bruh!
The other American basketball player that jettisoned the NBA is Josh Childress from the Atlanta Hawks. Josh is riding the wave from the hawks’ first playoff appearance in years. Although, he was a 6th man off the bench for the Hawks its well known that he could have been a starter on many a NBA team. His decision to leave the NBA for the Euroleague was motivated ,in part, because the Hawk’s didn’t seem to want to get a deal done in short time.
Most teams, until this year, usually have to worry about other NBA teams offering competing salary contracts for the Unrestricted Free Agent’s (UFA) of their choice on any given team. A restricted free agent (RFA) can not be signed outright without any objection from the team the player played for prior to signing a new contract with a new team.
Restricted Free Agents (RFA) NBA teams have thehe right to match an offer sheet to retain their player. Often times these teams (original players) can offer more money and a longer term contract. These are just some of the nuances in the NBA collective bargaining agreement (CBA).
“One definite perk of a Euro deal, however, is the free housing, utilities, maintenance, cars, health care and flights home that regularly come as part of a package and often escape the taxman’s attention.” So, a player can retain more of his income and just has to worry about incidentals, gas and food. Hardly a worry for players executing million dollar/euro contracts. There is a change happening here. Euro tax laws, and the way they allow players to NET more income combined with all these “perks.” I predict more players will opt for GREENER PASTURES overseas.
I think this adds more excitement to the business side of the NBA. Now, General Managers have to account for a credible threat of foreign basketball leagues. In Europe, there is no HARD salary cap. So a team that has billionaire ownership like some Russian teams can spend as much as they like. Could this spell trouble for American teams?
Reports suggest that the summer of 2010 will answer this and many other questions. This is when the mercurial class of ’03 will enter free agency. You might have heard of some of these athletes ;who have every sub-par team in the league restructuring their payroll now in hopes they can make a bid, for Lebron James, Dwanye Wade, Carmelo Anthony, Chris Bosh & Amare Stoudemire.
With the exception of Amare these players are franchise players and they have just been in the league for 5 years. Though all of these players play for TEAM USA , only the first four are active this summer.
Other NBA players who have fled the NBA for the EuroLeague include Jorge Garbajosa to join Russia’s BC Khimki; Juan Carlos Navarro rejoined FC Barcelona , Primo Brezec to Rome, Bostjan Nachbar is headed to Dynamo Moscow, and Nenad Krstic is also headed to Russia and Carlos Delfino to BC Khimki.
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