LG, KT, and KCC franchise owners change... SK general manager Kwon Young-sang appointed to KBL board

*This content was translated by AI.

The franchise owners of Changwon LG, Suwon KT, and Busan KCC in professional basketball have changed.

The KBL announced on the 4th that it held the 31st term 4th extraordinary general meeting and the 5th board meeting at the KBL Center at 8 a.m. that day.

Accordingly, the extraordinary general meeting changed the franchise owners of LG, KT, and KCC to Ryu Jae-cheol, Park Yun-young, and Jeong Mong-yeol, respectively, and approved the appointment of SK general manager Kwon Young-sang as a KBL director.

Additionally, the KBL stated that it approved the business plan and budget for the 32nd term.

The board decided to introduce a special draft for players with overseas experience. The draft will be conducted with equal probability among participating teams for players with more than three years of experience in overseas professional leagues. Compensation will be negotiated freely between the selecting team and the player, with detailed procedures to be finalized later.

The deadline for replacing Asian quota players has been extended from the end of the fourth round to the end of the regular season.

Furthermore, the FA compensation criteria have been improved. Previously, teams acquiring players ranked in the top 30 in compensation had to provide one compensation player and either 50% or 200% of the player's salary. Going forward, this has been relaxed to one compensation player and either 25% or 100% of the player's salary.

For players ranked 31st to 40th in compensation, the compensation fee has been reduced from 100% to 50% of the player's previous salary. For players ranked 41st to 50th, the compensation regulations have been abolished. The previous regulation excluding players aged 35 and older from compensation targets has also been abolished.

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*This content was translated by AI.