Brooklyn Nets Luxury Tax Bill to be $87 Million | Robert Littal Presents BlackSportsOnline

Brooklyn Nets’ Luxury Tax Bill set to Be $87 Million

by Phillip Jackson | Posted on Friday, August 2nd, 2013
Tweet about this on TwitterShare on FacebookEmail this to someoneShare on RedditShare on Google+

Brooklyn Nets

I keep saying it and I will say it again. One of the most underrated things in sports is having an owner willing to spend whatever is necessary to win a championship. After the moves the Brooklyn Nets pulled off this summer, I would say owner Mikhail Prokhorov certainly falls into that category.

After adding Alan Anderson for the league minimum, the Nets are scheduled to have a team salary of $102 million next season. In case you were wondering, the salary cap for the NBA next year is set at $58.7 million with the luxury tax at $71.7 million. ESPN.com’s Marc Stein breaks down the math of just how much Prokhorov will be paying on the side for his expensive roster.

Before this week’s addition of Alan Anderson for a mere $947,907, Brooklyn was over the luxury-tax threshold by $29,515,102 … which projected to a 2013-14 luxury tax of $82,939,184.

Now?

Adding Anderson on a minimum deal nudges those figures to $30,463,009 … and a mind-numbing $87,199,293. 

Well, he did promise a championship within 5 years.. clocks ticking Prokhorov. In case you were wondering, I think he’ll be able to handle the luxury tax bill seeing as how his net worth is $13.7 billion (Forbes).

Powered by
About the Author

Sports editor over at wordonthegame.com and all around sports head. Follow me on twitter @PhilWOTG, for everything sports related.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


BlackSportsOnline
BSO Privacy Policy