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Owners agree that current pension system should be shut down

by on Nov.19, 2010 @ 4:00 am, under NPB

There was an Owner's Meeting last night.  The following topics were discussed:

The owners agreed last night during the Owner's Meeting to shut down the current pension system.  The current pension system is riddled with problems, like a tax break that expires on 3/2012 and interest rates that are much lower than originally promised.  In order to shut down the current pension system, money in the system needs to be properly dispersed to current and retired players.  And it was the method in which the money was going to be dispersed that the owners apparently agreed on.  The NPB is also planning on holding a meeting in January for about 800 retired players to explain the current situation and gain more than 2/3's approval to shut down the current pension system.

The owners discussed the broadcast schedule of this year's Nippon Series.  Seems the owners weren't entirely impressed with the NPBs effort to sell broadcast rights to every game of the series.

The proposal for a third All-Star game was brought up during the meetings.  Some of the owners were concerned about the value of the games dropping with too many games, but the executive committee apparently already came up with some numbers on what kind of ticket sales the league might be able to expect.  And while the main purpose for holding a third game is to help improve the NPB's bottom line, some of the revenue could also go towards funding the pension system.

Rakuen Eagles' owner Jun Shimada will be moderator of the meetings next year.

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Yokohama Bay Stars' owner Kiyoshi Wakabayashi met with all 11 NPB teams before the Owner's Meeting on Thursday to apologize for all the fuss the club caused during their talks to sell the team.

Said Wakayabashi, "I met with each team individually in order to apologize.  None of them asked me any questions."