The 2023 Korean Basketball League (KBL) free agency class, which saw some of the biggest names in professional basketball, will not see a single compensated player move.
“Seoul SK, Anyang KGC, Suwon KT, and Daegu 토토사이트KOGAS opted for cash compensation for their respective player transfers in connection with the exercise of their free agent compensation designation rights,” the KBL announced on Monday.
Accordingly, Jeonju KCC, which acquired Choi Joon-yong, will pay 1.1 billion won, or 200 percent of his salary of 550 million won for the 2022-2023 season, to SK, his original club. KT, which acquired Moon Sung-gon, will pay KGC 1 billion won, 200 percent of last season’s salary of 500 million won, KGC, which acquired Jung Hyo-geun, will pay Korea Gas Corporation 600 million won, 200 percent of last season’s salary of 300 million won, and Changwon LG, which acquired Yang Hong-seok, will pay KT 1 billion won, 200 percent of last season’s salary of 500 million won.
According to the KBL FA Rules, a member club that loses a free agent ranked within the top 30 in the previous season’s compensation ranking to another club can choose either ‘1 compensation player + 50% of the compensation of the new free agent’ or ‘200% of the compensation of the new free agent’. If a team chooses to select a compensatory player, it can do so from its roster, excluding the three protected players (excluding mandatory top-30 free agents and rookies) tied to the free agent acquisition.
In this year’s free agency market, the players in the top 30 of the compensation list are Choi Jun-yong from SK to KCC, Moon Sung-gon from KGC to KT, Yang Hong-seok from KT to LG, and Jung Hyo-geun from Korea Gas Corporation to KGC.
The acquiring clubs submitted their protected player lists by the 26th, and the original clubs had until the 28th to decide whether or not to exercise their compensation designation rights. However, instead of signing quasi-related players to bolster their rosters, the clubs opted for compensation in full for salary cap reasons.
SK acquired Oh “Dae-geun” Seo from KGC, who is over the age of 35 and does not need to be compensated, and then gave Choi Jun-yong to KCC. In the end, they opted to receive compensation from KCC without a compensated player.
KT acquired Moon Sung-gon from KGC, but had to pay compensation without a compensated player to KGC, and in exchange for Yang Hong-seok to LG, they also had to pay compensation without a compensated player.
KGC, which acquired Jung Hyo-geun from KOGAS after losing both Oh Se-geun and Moon Sung-gon, the backbone of the team, will also pay compensation to KOGAS without receiving a compensatory player from KT.