Aug 1, 2013, 10:16 AM EST
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.
Dec 28, 2014, 12:28 AM EST
The Magic still won the game.
Dec 27, 2014, 10:25 PM EST
Just like Lance… and you really shouldn’t imitate Lance.
Dec 27, 2014, 9:00 PM EST
He’s done it twice in the last two games.
Dec 27, 2014, 8:02 PM EST
A sports hernia kept him out of training camp and the rookie has never caught up with the learning curve.
Dec 27, 2014, 6:30 PM EST
Stephenson has missed the last four games.
Dec 27, 2014, 5:03 PM EST
Will the Lakers’ offense resort to stagnation?
Dec 27, 2014, 3:30 PM EST
Anthony Davis has arrived.
Dec 27, 2014, 2:00 PM EST
Stuckey says the trade robbed the locker room of accountability.
Dec 27, 2014, 12:30 PM EST
LeBron James was in “chill mode” and this team is vulnerable when he is.
Dec 27, 2014, 11:00 AM EST
Hamstrings are tricky things.
Dec 27, 2014, 9:30 AM EST
This option was always on the table for him, people around the NBA just never thought he’d choose it.
Dec 27, 2014, 7:59 AM EST
He won’t be available until February or March, the Heat may not want to wait that long.
Dec 27, 2014, 12:45 AM EST
Lob City comes to Sacramento.
Dec 27, 2014, 12:02 AM EST
Moses Malone is up next.
Dec 26, 2014, 11:15 PM EST
Should have had a three-point opportunity, too.
Dec 26, 2014, 10:30 PM EST
He isn’t human.
Dec 26, 2014, 9:45 PM EST
Hopefully there are more of these and fewer threes.
Dec 26, 2014, 9:00 PM EST
Not good news for the Cavs’ frontcourt depth.
Dec 26, 2014, 8:15 PM EST
His body is still sore.
Dec 26, 2014, 7:30 PM EST
Teams are looking for any edge they can get.
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