Overseas Basketball Salaries: Panama Basketball League [Players Survey]
PANAMA Basketball Salaries Summary:
|
Monthly Salary Ranges: |
Below $500USD - $4,500USD |
|
Most Commonly Reported Monthly Salary: |
$1,000USD - $1,500USD (25%) |
|
Lowest Reported Monthly Salary: |
Below $500USD (8%) |
|
Highest Reported Monthly Salary: |
$4,000 - $4,500USD (5%) |
|
Salary Ranking in Central America Pro Basketball: |
No.2 |
|
Import Pro Players Surveyed in Panama: |
50 |
Source : Josecolorado.com, Professional Basketball Players Survey Data [2020]
In Panama, the most common professional basketball salary is between $1,000USD - $1,500USD per month with 25% of players reporting their income in this bracket.
Panama maxes out at about $4000USD - $4500USD per month with 5% of overseas basketball players reporting their income in this range.
Panama is the best country in Central America for paying its own nationals (Panamanians).
According to our data that looked at 100 worldwide professional leagues, Panama has the second-highest basketball salaries in Central America behind Nicaragua.
Panama monthly basketball salaries (players survey)
Panama pRO BASKETBALL salaries: liga Profesional de baloncesto (lpb)
La Liga Profesional de Baloncesto (LPB) is the main professional basketball league in Panama.
There are 6 teams:
ATLETICO NACIONAL
CABALLOS DE COCLE AGUADULCE
CLUB DEPORTIVO PANTERAS
CORRECAMINOS DE COLON
TORROS DEL CHIRIQUI DAVID
UNIVERSITARIOS DE PANAMA
Caballos and Correcaminos are the top pro clubs having won 4 of the past 5 LPB championships.
But know this:
When it comes to talent and the overall competitiveness of the LPB, Panama is heads and shoulders above the rest of Central America.
Just look at the latest FIBA World Rankings.
Photo credit: FIBA
That’s why it may be all the more surprising for many overseas players to hear of the country’s modest pay grade in comparison to its talent level.
|
Salary range (USD): |
Country with highest percentage of players in bracket: |
|
Below $500USD |
El Salvador |
|
$501USD - $999 |
El Salvador |
|
$1,000 - $1,500 |
Panama |
|
$1,501 - $1,999 |
El Salvador |
|
$2,000 - $2,500 |
Nicaragua |
|
$2,501 - $2,999 |
Panama |
|
$3,000 - $3,500 |
Panama/El Salvador |
|
$3,501 - $3,999 |
Nicaragua |
|
$4,000 - $4,500 |
Panama |
|
$4,501 - $4,999 |
No players reported this income bracket |
|
Above $5,000 |
Nicaragua |
Source : Josecolorado.com, Professional Basketball Players Survey Data [2020]
But after having spoken to many insiders, the explanation is clear:
Panama’s national talent has actually made basketball salaries level off in the LPB.
Let me explain.
First, consider Panama’s latest national team roster:
Image taken from fiba.basketball
This 12-man squad is set to compete in the second window of the 2022 FIBA AmeriCup Qualifiers on Nov.27, 2020.
The 9 players highlighted represent Panamanians who have played aboard as imports in the past year.
Those countries/leagues include:
Mexico (LNPB)
Israel
Romania
Argentina (LNB)
Colombia (LPB)
…and more.
The point is:
There isn’t a single country in Central America that can claim to have anywhere near as many of its national players playing in such high-level leagues across the world.
In fact:
Many Central American countries don’t have a single national player playing outside its domestic league.
This comes as a gift and curse for LPB salaries.
Because the local talent is so high in Panama, many insiders tell me there is no need to overpay for foreign-born players.
There simply isn’t a huge drop-off in talent from foreigners to the best Panamanians.
And when looking at the league leaders that does seem to be reflected.
Look at how many Panamanians (highlighted in yellow) finish at the top of the leaderboards.
Photo credit: latinbasket.com
The eye test tells the same story.
In Panama, every player - regardless of nationality - is viewed on their own merit and paid appropriately.
Another key factor to consider for Panama is an investigation into the federation that temporarily paused the LPB years ago.
To many, this has slowed:
Fan enthusiasm
Sponsor support
League momentum
But there’s more…
AVERAGE SALARY PER YEAR PLAYING PROFESSIONAL BASKETBALL IN panama
The second most important part of the Panama equation is when the league takes place.
Usually the LPB runs from roughly May - August.
That means if…
The most commonly reported salary range is $1,000 - $1,500USD
The middle of that range is $1250
Multiply [$1250x4] for the number of months in the season
We can conclude…
THE AVERAGE foreign-PLAYER’S YEARLY INCOME, IF HE WERE TO PLAY professional basketball only IN panama, WOULD BE $5,000USD.
And with so many Panamanians going overseas during the calendar year, this is perfect timing.
The LPB essentially serves as a summer league for its locals.
Owners and pro clubs know they don’t have to overpay to keep their best local talent home because:
They will already be back home in Panama during the summer time anyway
They can spend time with their families (the LPB schedule isn’t too demanding)
They can earn money while playing basketball at home
They can earn money while preparing and staying in shape for their next “real “money-earning season.
All of these factors allow club owners the opportunity to not spend crazy amounts of money to get quality Panamanians while maintaining a competitive level.
Interesting note:
This same summer-schedule model is followed by other high-level leagues in the Americas such as:
Canada - Canadian Elite Basketball League (CEBL)
Puerto Rico - Baloncesto Superior Nacional (BSN)
And because foreign-born players know that Panama is well-regarded within Latin America, there are many overseas players who are eager to simply get their opportunity in the country.
In speaking with import players personally in the LPB, that meant:
Taking on less money
Taking on less guarantees (trial runs with the team with no guaranteed money until you kill)
Paying for your own flight
Getting only half your food money paid for
…etc.
To them, taking on these inconveniences are worth it if they can get:
Good film
Good stats
Good resume-building experience
Good connections to other higher-paying Latin American leagues
This could help explain how 49% of respondents had monthly salary totals below $1500USD.
But don’t get it twisted:
Panama can still pay a decent sum of cash to players who warrant it, including high-level Panamanians.
One final thing imports must be aware of:
Unlike in other Central American countries that actively search and try to sign players for club tournament championships, don’t expect that in Panama.
In fact:
In the past 3 large-scale club championships - COCABA(x2) and BCLA - Correcaminos de Colon never brought a single foreigner on their team.
Panama trusts its nationals.
And usually they end up winning anyway - in Central America at least - so why would they waste the extra money on a foreigner?
panama’s BASKETBALL SALARY RANKING IN CENTRAL AMERICA
In the end Panama ranks as the No.2 highest-paying country in Central America even though it is by far the best basketball country.
While countries such as Nicaragua and El Salvador must overpay for some of its top imports to compensate for its lack of national talent, Panama does not.
The LPB allows players a great and competitive platform to springboard overseas basketball careers into bigger and more profitable leagues.
The power in Panama then is not in its money but the potential of what a solid season in Panama can do for your resume, career and future earnings.
Panama Basketball Salaries Recap
Panama’s most common basketball salary range is between $1,000USD - $1,500USD
While not the highest-paying basketball country in Central America, Panama has the most potential to springboard off of to higher-paying overseas leagues
Foreigner overseas basketball players aren’t as valued in Panama as the rest of Central America
Panama’s national talent makes LPB contract salaries level off
Have any questions about Panama basketball salaries?
Drop a comment below and let me know.
Jose Colorado is a five-year professional basketball player helping others achieve their goals of pro basketball through a proven, research-based approach.
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