Aug 1, 2013, 10:16 AM EDT
The largely free market loving, Republican owners of the NBA teams pushed hard in the last Collective Bargaining Agreement for something that you would think goes against their nature — an increased and very stiff tax structure that sets up a more socialist system. (They would argue the system is needed for the growth of the overall sport.)
But the tax penalty only works if an owner is afraid to pay it.
Brooklyn Nets own Mikhail Prokhorov laughs at it. Or at least isn’t going to blink writing a very large check.
With the addition of Alan Anderson on a minimum deal, the Nets will have a payroll of $102,211,009 next season (figures via Hoopsworld). The NBA’s salary cap is set at $58.7 million for next season, the luxury tax line is $71.7 million (meaning the new escalating taxes start at that figures). Marc Stein of ESPN did the math from there for TrueHoop:
Adding Anderson on a minimum deal nudges those figures to $30,463,009 (dollars over the tax line) … and a mind-numbing $87,199,293 (in taxes due)
So the signing of a player due to make just under $1 million next season will cost Brooklyn more than $4 million in additional taxes under the league’s much more punitive tax laws that go into effect this season.
The tax the Nets will pay will be based on their salary figures on the last day of the regular season, so it is possible for the Nets to make moves to lower that number.
But it doesn’t look like Mikhail Prokhorov wants to — he wants to win at any cost. So he will write a big check at the end of the season. What kind of winning he will get for that remains to be seen, but I don’t think it’s the title he is looking for.
Sep 2, 2014, 4:59 PM EDT
I think the Warriors are pretty set at the guard spot, but he would had some toughness.
Sep 2, 2014, 4:13 PM EDT
When big men run the floor hard, good things happen.
Sep 2, 2014, 3:30 PM EDT
Ingles off to hot start in World Cup
Sep 2, 2014, 2:43 PM EDT
I mean, there’s always a chance.
Sep 2, 2014, 2:01 PM EDT
Team USA was supposed to be a perimeter-based team, but through three games the bigs are stealing the show.
Sep 2, 2014, 1:18 PM EDT
Greek Freak in action.
Sep 2, 2014, 12:39 PM EDT
Curry fired back on Twitter to someone who made a joke at the expense of his shoes.
Sep 2, 2014, 11:59 AM EDT
Erik Spoelstra is changing things up a bit.
Sep 2, 2014, 11:18 AM EDT
Rose was originally penciled in as the starter, but Kyrie Irving has been more deserving thus far.
Sep 2, 2014, 10:37 AM EDT
This should make Bulls fans extremely happy.
Sep 2, 2014, 9:59 AM EDT
Cleveland, now with championship aspirations, may not feel the same way.
Sep 2, 2014, 9:22 AM EDT
Mozgov could play with LeBron James, for David Blatt (his Russian national team coach)
Sep 2, 2014, 8:45 AM EDT
The young Pistons could use this kind of locker room leader.
Sep 2, 2014, 7:59 AM EDT
“I’ve played 18 years, and the way I look at my career, I’m content with everything that I’ve done. I just want to take this summer and see how it goes.” —Ray Allen
Sep 2, 2014, 12:45 AM EDT
Pau Gasol dropped 26 on Brazil, grabbed 9 boards and even blocked Nene at the rim.
Sep 2, 2014, 12:02 AM EDT
Miami reportedly most interested in Emeka Okafor
Sep 1, 2014, 10:30 PM EDT
“I’m feeling good right now. Just trying to get in better shape, get in better condition, so that when I do need to score the ball, then it’ll be there.” —Derrick Rose
Sep 1, 2014, 9:00 PM EDT
Halle Berry is officially married still, for the record.
Sep 1, 2014, 7:30 PM EDT
Ellington, acquired in trade from Knicks, likely stretched
Sep 1, 2014, 6:00 PM EDT
Former Wizard provides depth at small forward following Paul George’s injury
- USA sails past New Zealand for easy 98-71 win behind Anthony Davis, Kenneth Faried 2
- Ray Allen on making a decision about next season: “I’m not in any rush” 10
- Derrick Rose after first back-to-back in years: “I’m feeling good right now” 3
- Report: Rajon Rondo wants to start season with Celtics, see how things unfold 11
- Rajon Rondo’s agent denies they asked Celtics for a trade 14
- Team USA trails at the half, then pulls away for 98-77 win over Turkey at FIBA World Cup 19
- Report: Nike nearing deal to keep Kevin Durant for next 10 years 22
- Report: Rajon Rondo has told Celtics ‘he wants out’ 68