Sat, Mar 23, 2013 - Page 3 News List

Baseball players’ trust fund reaches NT$76 million

Staff writer, with CNA

A trust fund that manages part of the salaries for some local professional baseball players to prevent match-fixing now holds more than NT$76 million (US$2.55 million), a manager of the trust fund said.

Richard Chang (張齊家), an assistant manager at Cathay United Bank, which manages the trust fund, said it was set up in 2010 and added that more than NT$76 million has been placed in it.

Following a series of betting and game-fixing scandals that tarnished the image of the Chinese Professional Baseball League (CPBL), the players’ union decided in 2010 to use part of the players’ salaries to set up the trust fund, with the union serving as its trustee.

Under the program, a player can take back his money held in the fund on retirement.

However, if he is found to have been involved in throwing games, the money placed in the trust fund would be confiscated and used to develop the sport in Taiwan.

Chang said that under the program, players can choose to save the money or make regular investments. A player with a monthly salary of NT$100,000, for example, can save at least NT$1.2 million if he plays for 10 years, he said.

In the event of an emergency, players can also withdraw money from the fund with the union’s consent, he said.

In addition to the initiative by the players’ union, the CPBL and the league’s four teams also decided in 2010 to put one-third of the signing bonuses for new players and 6 percent of salaries for players in the second-tier league into a separate trust fund.

The CPBL’s season-opener is scheduled for today between the Uni-President Lions and the Lamigo Monkeys.

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