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.
Jul 28, 2015, 8:30 AM EDT
The man made some plays.
Jul 28, 2015, 8:00 AM EDT
Mason Plumlee with a money gun shooting $100s.
Jul 28, 2015, 12:40 AM EDT
Ennis will get the chance to prove his case in training camp.
Jul 27, 2015, 11:00 PM EDT
Larry Brown said the condition had Popovich thinking about retirement.
Jul 27, 2015, 10:01 PM EDT
Well, you don’t see that every day.
Jul 27, 2015, 9:00 PM EDT
Wasn’t this obvious already?
Jul 27, 2015, 7:59 PM EDT
It could work — in very limited circumstances.
Jul 27, 2015, 6:59 PM EDT
Bird also says Jordan would destroy him one-on-one right now.
Jul 27, 2015, 6:32 PM EDT
James Ennis seems on the bubble with Miami.
Jul 27, 2015, 5:30 PM EDT
I so hope this isn’t staged.
Jul 27, 2015, 5:01 PM EDT
Dragic would not have fit the triangle, but he’s talented.
Jul 27, 2015, 4:05 PM EDT
Center goes from Frank Vogel to Byron Scott and is happy about it
Jul 27, 2015, 3:08 PM EDT
Key Democrat implies it’s not a certainty
Jul 27, 2015, 2:19 PM EDT
Vlade Divac is trying to put the band back together
Jul 27, 2015, 1:38 PM EDT
Celtics and Warriors finalize David Lee trade
Jul 27, 2015, 12:34 PM EDT
Did he accept the qualifying offer?
Jul 27, 2015, 12:11 PM EDT
Indiana apparently liked what is saw from undrafted free agent last season
Jul 27, 2015, 11:25 AM EDT
Protected second-round pick going back to Celtics
Jul 27, 2015, 10:12 AM EDT
Miller reportedly wanted to leave Cavaliers for a team that would play him more
Jul 27, 2015, 9:32 AM EDT
Both players to receive partially guaranteed contracts
- Phil Jackson says Knicks wanted Goran Dragic at trade deadline. Because he’s such a triangle fit? 15
- Report: Cavaliers sign Matthew Dellavedova 8
- Heat trade Zoran Dragic, second-rounder to Celtics 11
- Report: Cavaliers trade Brendan Haywood, Mike Miller, two second-round picks to Portland 17
- Blake Griffin, Stephen Curry among latest big names headed to Team USA mini-camp 8
- Kyrie Irving off crutches, cleared by doctors to start working out 8
- Report: Becky Hammon gaining traction around the NBA as “serious” head-coaching candidate 43
- Gregg Popovich discusses three-point shot, changing roles for bigs in NBA 4