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.
Mar 29, 2015, 12:26 AM EDT
The Golden State Warriors are the team to beat out West.
Enes Kanter rips Jazz, calls his time there a ‘three-and-a-half-year frustration'; gets booed by fans
Mar 28, 2015, 11:00 PM EDT
Kanter was traded to the Thunder midseason.
Mar 28, 2015, 9:30 PM EDT
MJ’s still got it.
Lakers coach Byron Scott says opposing players have told him during games they’d ‘love to be in L.A. next year’
Mar 28, 2015, 8:00 PM EDT
Big, if true.
Mar 28, 2015, 6:30 PM EDT
Legislation was signed into law in Indiana last week, and has been criticized as one that could legalize discrimination.
Mar 28, 2015, 5:00 PM EDT
Hornets, still fighting for a playoff spot, catch a break.
Mar 28, 2015, 3:30 PM EDT
Van Gundy coached five seasons in Orlando, but was fired after the way the Dwight Howard debacle played out.
Mar 28, 2015, 2:00 PM EDT
Kerr was joking, and making light of a mini-controversy that occurred recently with the Cavaliers.
Mar 28, 2015, 12:30 PM EDT
Clark played key bench minutes the same day he was signed.
Mar 28, 2015, 11:00 AM EDT
Cuban went off after the Mavericks were blown out by the Spurs.
Mar 28, 2015, 9:45 AM EDT
Warriors keep rolling, while the Grizzlies are starting to feel like a first round loss.
Mar 28, 2015, 8:30 AM EDT
Highlight-reel play came near the end of a loss to the Nets.
Mar 27, 2015, 11:44 PM EDT
LeBron refused to be dismissive of a seemingly harmless regular season loss.
Mar 27, 2015, 10:30 PM EDT
O’Neal made the remarks while being inducted into the Orlando Magic Hall of Fame.
Mar 27, 2015, 9:30 PM EDT
The injuries continue to pile up for the Rockets.
Mar 27, 2015, 8:30 PM EDT
The battle between Green and Doc Rivers continues in the funniest of ways.
Mar 27, 2015, 7:25 PM EDT
Blatt knows James is unlikely to get the league-wide award this season.
Mar 27, 2015, 6:12 PM EDT
The Thunder defense has become a mess, which is bad for the playoffs.
Mar 27, 2015, 5:18 PM EDT
What is in James Harden’s beard?
Mar 27, 2015, 4:32 PM EDT
He is likely a middle second round pick if he comes out.
- Mark Cuban rips officials, NBA: ‘It’s criminal’ how Monta Ellis doesn’t get calls 20
- Shaquille O’Neal says he regrets leaving Magic for Lakers 38
- Cavaliers coach David Blatt: ‘LeBron James is our MVP’ 20
- No Durant, what does that mean for Thunder in these playoffs? Trouble. 15
- Kevin Durant to have third foot surgery; is done for season, playoffs 39
- Goran Dragic leading feisty Heat’s playoff push 29
- NBA Draft prospect matchups to watch in NCAA Tourament this weekend 2
- Report: LeBron James frustrated with Kevin Love for not fitting in 85