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.
Nov 21, 2014, 9:46 PM EST
He will not play against the Mavericks, at least.
Nov 21, 2014, 8:30 PM EST
Kirilenko appears to be done in Brooklyn.
Michele Roberts: NBA agreed to work with union before attempt to ‘prove its toughness’ with Jeff Taylor suspension
Nov 21, 2014, 7:30 PM EST
National Basketball Players Association executive director: NBA ‘chose to bend to the pressure it feels from the current media spotlight’
Nov 21, 2014, 6:57 PM EST
Another top pick down. This sucks.
Nov 21, 2014, 5:59 PM EST
Any story that includes a chance meeting and conversation with Jerry Buss outside a men’s restroom is going to be golden.
Nov 21, 2014, 5:15 PM EST
You all know the Sixers would win easily, right?
Nov 21, 2014, 4:30 PM EST
Former No. 1 pick knows he fought perception due to Wizards’ struggles
Nov 21, 2014, 3:45 PM EST
LeBron said the same thing about Chris Bosh.
Nov 21, 2014, 3:02 PM EST
Kobe calls owners ability to pressure players into discounts ‘brilliant’ — but it won’t work on him
Nov 21, 2014, 2:12 PM EST
Hornets forward makes right move by accepting lengthy ban
Nov 21, 2014, 1:39 PM EST
Martin suffered injury against Knicks on Wednesday
Nov 21, 2014, 1:01 PM EST
Did Bulls center think Cousins flopped?
Nov 21, 2014, 12:25 PM EST
Brooklyn forward had fallen from rotation
Nov 21, 2014, 11:47 AM EST
Mark Cuban says technology will give his team an edge on the court
Nov 21, 2014, 11:08 AM EST
How long will Celtics general manager keep that stance?
Nov 21, 2014, 10:29 AM EST
Yup, Richardson is still hanging around the 76ers
Nov 21, 2014, 9:51 AM EST
Cavaliers and Rockets were reportedly interested in Timberwolves forward
Nov 21, 2014, 9:14 AM EST
Who would have figured offering a 50 percent discount following Philadelphia wins wouldn’t work?
Nov 21, 2014, 8:38 AM EST
That’s a look
Nov 21, 2014, 8:00 AM EST
Add rookie’s mom to long list of people angry about 76ers tanking
- Kobe Bryant says he took large enough discount for Lakers to contend 47
- Report: Jeff Taylor won’t appeal 24-game suspension 2
- Timberwolves’ Kevin Martin out indefinitely after scoring 31 points with fractured wrist 8
- Andrei Kirilenko leaves Nets for road trip, Lionel Hollins unsure if he’ll return 14
- Report: Danny Ainge telling other teams he won’t trade Rajon Rondo 13
- PBT Extra: How would the NBA benefit from legalized sports betting? 2
- NBPA ready to appeal Jeffery Taylor’s 24-game suspension 12
- Alex Len, No. 5 pick in a draft full of players who looked like busts as rookies, showing he doesn’t deserve the label 5