How much does Yao pay the CBA and Shanghai Sharks :Sina Junk, RAYOR According to this article, Yao pays Shanghai sharks a total of about 10 million dollars. He also pays CBA about 3-5% of after tax income. It says his agents were great and talked CBA's ask % from 50 to the current %. link
Because he was under contract with them. I guess the $10 million was his buyout, just like European buyouts, only this one was much bigger.
I remember I have read somewhere that Pau Gasol practically played for nothing in his rookie year because all his paychecks went to his former team in Europe to buy out his contract.
At first it was 10 million dorrar ... then Yao got it down to 1 million dorrar. Don't ever try to barter with a Chinese man.
I'm more mad at the swimming team charging one of the guy 50% for his endorsement and business deals, then cut him when he wouldn't pay.
In his autobiography, Yao mentioned his contract with the Sharks ended in 2001, so the Sharks had no beef to force him to pay up. But in communist China, things are not never that clear cut. And Yao is a generous and grateful person, so he agreed to pay the Sharks some say $8mil, and this way the team and the Shanghai sports officials would agree to let him leave for the NBA. Then the controlling body of the Sharks squandered all the money on their soccer team.
That is a big buyout. If the Rockets were to have bought out his contract instead of Yao, would it have counted against the cap?
tho, I seem to recall hearing that amount may change in the new CBA...but I havent seen the details..so I'm not sure by how much. Doesnt really matter since it would never cover the amoutn Sharks wanted as a buyout...you are correct about that.
I believe the new agreement calls for NBA teams to be able pay up to 750K towards a player's buyout. Edit: Now that I think about it. I think it's actually 500K. I don't know where the 750K came from.
when you look at the whole picture it's not that big of a deal. first of all, it's common practice that when a player transfered from one club to another, the club accepts the player is expected to pay a buyout fee. nba does that too. but the problem is nba has a cap, which is far less compare to the other big sports in the world. for example, a chinese top soccer player, but a bench warmer in a european team, can get a few mil for buyout. so, when yao was pick #1 by the nba the shanghai sharks of course expected more than a few hundred thousand in return. with nba's rules, yao had no choice but dig into his own pockets. the negotiation got a little bit uglier, but at the end of the day a deal was made and everyone moved on. yao was even considering representing the sharks again a few month ago if it's not for the rockets' rules. in terms of cba asking for 50%, it's just a general rule. it looks a lot but it's actually not. considering this, training for athlets in china is practically free. the local sports clubs look for talents and train them with best trainers they can find, for free. when they can compete in the international level they get sent out to play by the national sports authority without paying a cent from their own pockets. only they need to give back 50% of their earnings. and believe me most of the cases it doesn't even cover the travel expenses. yao is an exception, in terms of his 50% is actually a lot. hence, after the negotiation it dropped to very little (%). i'll have to command the cba for doing this.
I guess, since they want Wang ZhiZhi to pay 50% when he returns to China! Like that is going to happen.
hhhhhhhhhmmmmmmmmmmmmmmm weren't kind of pissed at Shaq for something similar to this? Rocket River not funny
Most top sports players in America gets the same thing, it's called corporate sponsorship. Also, most public high schools have some sort of sports program to train these athletes or their are agency (like the one sharapova went for tennis) that develope and package these players. I think it's nice that the states sponsor many of those things, but I think it'd be a lot a better if in they privitize some of this stuff. Let Nike do it or something, because in the long run the players and country benefit and you don't get into a lot of defections or discruntle athletes (not just Wang Zhi Zhi but also that swimmer and that gymnist, don't remeber the names, but if you're Chinese you should know what I'm talking about).
50% of 0 is still zero 0....The joke is on China this time around! Way to go Zhi Zhi...You almost effed up our drafting of Yao!
