In the news that the Xinjiang men's basketball team announced its withdrawal from the CBA league through official social media, they no longer have any reserved news, directly pushing Yao Ming, chairman of the Chinese Basketball Association, to the center of public opinion, and bombarding the basketball association's "management and management" is a practical obstacle to the healthy development of China's basketball industry.
Xinjiang Guanghui Industrial Investment Group is a local "Fortune 500" enterprise in Xinjiang. According to its official website, in 2021, the group's total assets were 272.119 billion yuan, revenue was 203.223 billion yuan, and net profit was 4.853 billion yuan.
It can be said that the Group can provide reliable support to its clubs. However, in the 2019-2020 and 2020-2021 seasons alone, Zhou Qi spent more than 49 million yuan on one player, while the cumulative investment in the club has reached 2.31 billion yuan in the 24 years since its establishment.
To some extent, the high salaries of players such as Zhou Qi have caused huge expenses for the club. After Yao Ming became the president of the basketball association, in order to create healthy competition and sustainable development of the league, the CBA league also issued a salary limit order.
This season, the upper limit of the club's overall salary cap for local players is 44 million yuan, and the lower limit is lowered to 14 million yuan; The player's top salary has dropped from the initial pre-tax 8 million yuan to 6 million yuan. The previous sky-high contract with an annual salary of 20 million yuan no longer exists.
The dissatisfaction of Xinjiang Guanghui with the league and basketball association caused by the Zhou Qi incident is the direct cause of the club's withdrawal, but behind this, it is also an indisputable fact that some CBA clubs are difficult to bear their own profits and losses.