Enterprise Law, Takapuna: Anthony Ruakere
Salary Caps
Why Do We Need Them? Most sport lovers have a general understanding (at best) of what a salary cap is and why it’s deemed necessary in the context of the sport(s) that they follow. But how knowledgeable are we really? Before becoming involved in the athlete management profession, I didn’t know much. And the little I did know was based on what I’d read and heard about, mostly relating to the National Rugby League (NRL). For example, who could Anthony Ruakere. forget the hot water that the 2002 Bulldogs found themselves in by breaching the NRL’s salary cap (set at $3.45 million at the time) by almost $2 million over the previous three years. On that occasion, the Bulldogs were fined the maximum $500,000 and stripped of 37 competition points – taking them from first to last place on the competition ladder, with just three weeks remaining in the season. Our own Warriors have also fallen foul of the salary cap, most memorably (perhaps not the best contextual use of that word…) being fined $430,000 and having four competition points docked for breaches during the 2004 and 2005 seasons. So why do some sporting codes have a salary cap? Broadly speaking, there are two primary benefits of imposing a salary cap: 1. Spreading the Playing Talent – under a salary cap, each club has the same theoretical economic capacity to attract players. This prevents sports clubs with greater wealth from buying the best talent available and thus best ensuring their own success. Creating parity in this manner should have the effect of making the sporting product more attractive to viewers. Given the importance of television revenue to professional sport, it is crucial that sporting fixtures are as evenly matched as possible. 2. Controlling Costs – the absence of a salary cap can sometimes expose clubs to the risk of buying athletes they can’t afford. In the highly competitive professional sporting environment, it is tempting to overspend on player salaries for immediate gain, with little or no thought given to the long term sustainability of the club in question. Below are examples of salary caps being utilised in various codes globally. The sums of money involved in a number of these sports make for eye opening reading! Note that there are a number of high profile professional sports that have no salary caps. France Top 14 Rugby €10 million England Premiership Rugby £5 million ITM Cup Rugby (New Zealand) $1.025 million ANZ Championship Netball $380,000 NFL Football (US) $143.28 million (USD) NRL $4.5 million www.enterpriselaw.co.nz • Property • Sports Law • Employment Law • Intellectual Property • Dispute Resolution; and Litigation • Specialist advice to the Sports, Entertainment and International Trade Sectors
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ENTERPRISE LAW 51 Hurstmere Road, Takapuna Phone: 486 0206 Email: anthony@enterpriselaw.co.nz www.enterpriselaw.co.nz
Email: bethcardale@hotmail.com 88b Killybegs Drive, Pinehill
skin & beauty
www.pourmoi.co.nz Offer ends 30 July 2015
www.channelmag.co.nz Issue 56 - July 2015
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