THE Philippine Basketball Association (PBA) finally yielded to the Covid-19 pandemic’s lethal blow to the economy as the 46-year-old league announced a 20 percent salary cut that would cut across everyone involved in the games—from the players to personnel.
PBA Commissioner Willie Marcial made the announcement in an online press conference on Tuesday and although he didn’t reveal any figures, he expressed that the pay cut was meant to cushion losses incurred from the games still shuttered by the pandemic.
“It’s about time to give our contribution to all the teams—to the league—that supported us for the whole 16 months without deducting anything in our salary,” Marcial said.
The pay cut will be imposed starting next month.
The PBA, despite playing only one conference at the Clark bubble in the final quarter of 2020, incurred losses from sponsorships and gate receipts that equates to hundreds of millions. With the games played at least four hours in each of the three playing days each week, the league lost significant potential sponsorships and TV ads.
“In fact, there were companies which terminated employees ,while some are implementing a no-work, no-pay policy,” Marcial said. “On our part, we are receiving a full salary even if there’re no game.”
Marcial said the board of governors agreed on the pay cut during their virtual meeting on Monday. He said the players also were amenable to the measure.
There are 12 teams in the league and each employs no less than 30 individuals—players, coaches, utility, among others—thus the pay cut would affect close to 400 team personnel.
The PBA employs a total of 120 personnel, 41 of them administrative staff and the rest are referees or technical officials.
Players’ salaries range from a low P70,000 to a maximum P450,000 a month. Coaches are also paid in six figures.
The PBA has yet to set a date for the opening of the 46th season amid the ongoing quarantine.
Marcial also announced that Governor Matthew Manotoc offered to host a bubble in Ilocos Norte.
Read full article on BusinessMirror