- National Teams
The BBL has announced it has removed the Team Payments Cap (TPC) ahead of the 2022-23 season.
The lifting of the cap – which was approximately £250,000 net per roster not including the top two British players’ salaries – is the first major move the league has formally announced since Miami based investment firm 777 partners invested £7million into the league at the end of last year.
The league says the decision was overwhelmingly backed by the league’s clubs, though Hoopsfix understands it did take some convincing. The BBL believes the decision is “the next step to the British Basketball League achieving its goal of becoming a top level European league, with its clubs regularly competing in top level competition.”
There is internal expectation that the removal of the TPC will attract bigger investors into the league and franchises.
BBL Chairman, Sir Rodney Walker, commented:
“The league is pleased to be able to make this important change and we believe it highlights the continued growth of the BBL both domestically and on the European stage.
“We want to be able to continue to attract some of the most skilled and entertaining players to our league and we feel this is a significant step for the continued momentum we have built in the last twelve months.
“It is essential the league continues to grow and put on the best possible spectacle for the fans who come out each week. Finally we believe that if the BBL can nurture the very best British talent we can continue to achieve great success on and off the court in the years ahead.”
The league pointed to both the Leicester Riders and London Lions competing in European competition this season, saying it provides “significant benefits” to all of clubs, as well as playing an instrumental part in the continued accelerated growth of the league off the court.
The press release added:
“Homegrown and British talent is fundamental to the league’s growth and removing the Teams Payment Cap will increase opportunities for homegrown talent to make their mark in the BBL as opposed to moving further afield. This decision also highlights the league’s commitment to providing the most entertaining product for its most important stakeholders, the fans.”