LG broke the salary cap for the first time in KBO history, exceeding KRW 2,429.78 million…Kiwoom left 5.7 billion won
Dec 18, 2024
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The LG Twins have been listed as the first club in KBO history to exceed the salary cap. The amount of char amounts to a whopping 2,429.78 million won.
On the 18th, KBO announced the total amount of the top 40 players' salaries for each club in 2024.
KBO introduced a competitive equalization tax system from 2023 for the upward leveling and continuous development of the league's power, and applied a competitive equalization tax cap of KRW 11.426.38 billion this season, which is 120% of the club's annual average, including the amount of the top 40 players in each club's annual salary (annual salary, actual option payment, and the annual average down payment amount of FA among foreign players and rookie players).
As a result of the amount tally, LG's total amount of the top 40 players is KRW 13.85 billion, exceeding KRW 2.429.78 billion compared to the upper limit of the competitive equal tax, paying KRW 1.21 billion, or 50% of the amount, to the Baseball Development Fund.
For each club, KIA paid KRW 11.249 billion, Doosan paid KRW 11.19436 billion, Samsung KRW 11.18 billion, Lotte KRW 11.0518 billion, Hanwha KRW 10.7 billion, KT KRW 10.51 billion, SSG KRW 10.457 billion, NC KRW 9.47 billion, Kiwoom KRW 5.67 billion.
On the other hand, if the upper limit of the competitive equal tax is exceeded, 50% of the excess must be paid to the baseball development fund. In the case of two consecutive excesses, an amount equivalent to 100% of the excess shall be paid to the Baseball Development Fund, and the right to nominate in the first round of the following year will fall by nine levels. In the case of exceeding three consecutive times, an amount equivalent to 150% of the excess must be paid to the Baseball Development Fund, and the right to nominate in the first round of the following year will fall by nine levels.
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rina1130@sportschosun.com
