CPL sets salary cap at $1.2 M
Soccer league into Season 3
The books are open on the Canadian Premier League.
Word kicked up Monday about the financial position of the domestic soccer circuit, with all signs pointing to it progressing in a positive direction heading into the loop's third season.
Among the highlights are the CPL'S salary cap being set at $1.2 million for each team and that profits are not yet being realized by the young league.
“We have a long-term growth strategy in place,” said CPL commissioner David Clanachan, adding the clubs have invested $60 million to date.
“To be good in business, you have to stay in business, and we are taking a managed and staged approach to how we grow the league.
“We continue our focus on growing the culture and widening our fan base, all still with no revenue as we work towards finalizing a schedule for 2021.”
Heading into the season, which is set to kick off on the Victoria Day weekend, the CPL'S financial structure looks like this, according to the league:
Salary cap — $1.2 million.
■
Player cap must fall between $650,000 and $850,000. Coach/technical staff cap must fall between $350,000 and $550,000. Combined, the two must be at or under $1.2 million.
Average player total
■
compensation — $40,000 (including housing, car allowances, incentive bonuses)
Highest player compensation
■ — $77,000 (including above bonuses)
Average player minimum
■
compensation — $22,000 (expected to rise to $26,000, including housing and car allowance bonuses)
Player contracts with
■
options see an average 15 per cent increase from year to year (based on two-year options)
$45,000 of individual
■
additional bonuses are available to be earned each year, and a $178,000 team bonus is available depending on how far it advances into CONCACAF as paid by the league (outside the salary cap)
The league adds that the
■
cost of running a CPL team is, on average, more than $4 million a year.
“We are committed to continuing to work towards raising player, coach and technical staff compensation and to continuing to augment the product on the field,” Clanachan added.
“We know we have to do that to become top-three league in CONCACAF.”