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In the world of basketball, the NBA is known as the top league and attracts countless players to dream of. Even in China, this land has bred a group of players who have dreamed of stepping into the NBA and writing a new chapter in their basketball career. However, when a career ends, a player's life doesn't end there, and the NBA offers players a unique retirement benefit – a player retirement pension.
Before we talk about the retirement benefits of players, let's first understand how the NBA business empire has flourished. The commercial operation of the NBA can be said to be a successful practice, and its global influence is self-evident. Although it ranks second only to American football and baseball in North America, almost everyone in the world knows the name of the NBA. The most notable of these is the NBA's broadcast rights, a commercial activity that generates $24 billion a year in revenue for the league, and this number continues to climb and is expected to reach $75 billion by 2025.
So, why is the NBA so rich? The main reasons for this include advertising, sponsorship, ticket sales, team merchandise sales, and so on. The high income of players is a significant sign of the NBA's commercial success. The league positions itself as a brand, and the players are the face of that brand. A player's personal branding not only drives the commercial value of the team, but also drives the growth of the entire league. As a result, a benign win-win relationship has been formed between the NBA and its players.
The NBA's high income is not only used for the operation of the team and the league, but also goes back to the players' own pockets. The players' high salaries and generous bonuses allowed them to live a luxurious life during their careers, but once their careers were over, new problems lay in front of them. Compared with the prosperity of the career and the stability of the income, the retired players may face the dilemma of a sharp decline in income, and many players have not formed a reasonable financial concept, resulting in financial difficulties in a short period of time. To prevent this from happening, the NBA has developed a "Player Retirement Benefit" policy that allows players to maintain a high standard of living after their careers are over.
The NBA's "Player Retirement Benefits" policy is a complex and comprehensive system. According to the league's rules, players can be divided into three tiers, receiving different amounts of pension at the age of 45, 50 and 62. The specific calculation is as follows:
Tier 1 (45 years): $306.34 × Years of service× 2/3
Tier 2 (age 50): $306.34 × years of validity
Tier 3 (age 62): $1,666.7 × years of service
It should be noted that the upper limit of the validity period is 10 years, and the excess amount will not be calculated. At the same time, this calculation formula is not set in stone and will be adjusted as the league's revenue changes. So, what kind of pensions did China's three NBA players, Wang Zhizhi, Yao Ming, and Yi Jianlian, receive under this welfare policy? Due to some force majeure reasons, Wang Zhizhi's career has not been as brilliant as people expect. His retirement pension is capped at 10 years, and according to the current policy, Wang Zhizhi can receive about 700,000 yuan a year when he applies for "retired player benefits" at the age of 62. According to the current policy, Yi Jianlian can receive about 700,000 yuan of "retired player benefits" every year at the age of 62.
Yao Ming is a legend in the history of Chinese basketball, not only achieving brilliant results in the NBA, but also becoming a member of the Basketball Hall of Fame. As a result of playing in the NBA for nine seasons, Yao Ming's player retirement benefits at the age of 62 are relatively high. According to calculations, Yao Ming can receive about 1.26 million yuan of "retired player benefits" every year at the age of 62.
Although the amount of money received by these three Chinese players under the NBA retirement benefits is relatively substantial, they carry their different basketball experiences and regrets behind them. Let's take a deeper look at their NBA careers and their lives after retirement. Wang Zhizhi's career did not go as smoothly as he had hoped. Due to some uncontrollable factors, Wang Zhizhi's contract with the Mavericks was not renewed in time, becoming a pioneer of Chinese players, but he encountered twists and turns on the road to retirement.
In 2001, Wang Zhizhi stepped onto the NBA arena and became a representative of Asian players, but after his contract expired, he was forced to leave the Mavericks due to rumors from the outside world. This shadow of "no return" has affected his career to a certain extent. Although he played in the NBA for five seasons, for various reasons, he did not receive the "retired player benefits" for a longer period of time like Yao Ming and Yi Jianlian. Although Wang Zhizhi's retirement pension is relatively small, he has played a significant role in the development of Chinese basketball. Although there are regrets in his career, his dedication and hard work have left valuable experience for Chinese basketball.
As a representative of Chinese basketball, Yi Jianlian's NBA career is also worth paying attention to. Yi Jianlian was selected by the Milwaukee Bucks in the 2007 NBA Draft as the top pick, becoming the first Chinese player to be selected in the NBA top pick. His physical attributes and outstanding basketball talent have made him soar on the road to the NBA. Several teams he has played for, including the Milwaukee Bucks, New Jersey Nets, Washington Wizards, Dallas Mavericks, and more, have witnessed his wonderful performances. However, due to some injury issues and team adjustments, Yi Jianlian's career in the NBA did not meet people's initial expectations. After 5 seasons in the NBA, he returned to the CBA and became a pillar player for Guangdong Hongyuan.
Although Yi Jianlian's achievements in the NBA are not as good as Yao Ming, he is still one of the important representatives of Chinese basketball. After retiring, his "retired player benefits" are about 700,000 yuan per year, which is not a huge amount, but it is enough to maintain his standard of living after retirement. His efforts throughout his career have set an example for the country by securing more opportunities and benefits for Chinese players. Yao Ming was selected by the Houston Rockets as the top pick in the 2002 NBA Draft, becoming China's first NBA top pick. His outstanding performance and leadership style quickly made him a core player for the Rockets.
Although Yao Ming's NBA career has been plagued by injuries, his performance on the court has always been eye-catching. He was a frequent player in multiple NBA All-Star games and became one of the greatest players in Rockets history. Yao Ming's influence is not limited to the court, he is also an outstanding representative of Chinese basketball and Olympic causes. After his retirement, the "Retired Player Benefit" provided him with considerable financial support. At the age of 62, Yao Ming can receive about 1.26 million yuan a year in "retired player benefits". This figure shows the NBA's respect and care for outstanding players, and it also provides Yao Ming with more freedom and opportunities to develop in all areas of society.
Overall, the NBA's "Player Retirement Benefit" is a good policy that provides a living guarantee for players. For Chinese players like Wang Zhizhi, Yi Jianlian, and Yao Ming, this benefit has somewhat eased the pressure of their lives after their careers. However, each player's experience and amount of benefits are different, reflecting the twists and turns of an NBA career.
For Wang Zhizhi, although he was one of the founders of Chinese basketball, his career in the NBA was not as brilliant as one might expect. Affected by outside rhetoric and contract disputes, his "retired player benefits" are relatively low. However, he made history for Chinese players to enter the NBA and made outstanding contributions to the rise of Chinese basketball. Although Yi Jianlian's career in the NBA has had some twists and turns, as a representative of Chinese basketball, he has accumulated rich game experience and leadership through his experience in the world's highest league. His "retired player benefits" are not high, but they are enough to provide him with some security for his life after retirement. At the same time, he has once again proven his value on the court in the development of the CBA.
Yao Ming, on the other hand, is the pinnacle of Chinese basketball, with a brilliant NBA career and a mountain of personal accolades. As an outstanding representative of Chinese basketball, his "retired player benefits" are relatively high, reflecting his huge influence in the league and fans. After retiring from the army, Yao Ming devoted himself to promoting the development of basketball in China, and also made remarkable achievements in the field of public welfare and business. The NBA's retirement benefit policy is a long-term system that provides players with a relatively stable retirement life. However, it also reminds players to pay attention to financial planning and develop good financial awareness at the peak of their careers. Some players face financial problems after retirement due to their over-reliance on high career income and lack of reasonable financial management concepts. Therefore, in addition to the NBA's "player retirement benefits", players also need to pay attention to personal financial planning to ensure a more stable life after retirement.
Overall, the NBA's retirement benefits provide players with a warm back that allows them to live a relatively prosperous life after saying goodbye to the court. Through the experience in the NBA, Chinese players have not only improved their basketball skills, but also laid a solid foundation for the rise of Chinese basketball. This is a welcome development for both individual players and Chinese basketball as a whole, showing the continuous rise of Chinese players on the international stage.