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Old 07-19-2013, 01:15 AM   #1
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Default Insanely high Nets salaries and luxury tax for 2013-14

Regardless of what happens in the regular season and playoffs, the Nets have won the summer – and Thursday was their reward for building a lineup of All-Stars with an astronomical $82 million luxury tax bill.

So Mikhail Prokhorov didn’t miss the opportunity to needle James Dolan, who hasn’t been able to hold a press conference this offseason because his biggest signing was Andrea Bargnani...

After shelling committing to about $183 million in salaries and luxury taxes for next season, the Russian billionaire has encountered resentment from around the league, presumably from owners and executives who fought for stricter penalties for big spenders during the lockout of 2011. The new CBA was supposed to curtail spending and even the playing field, but Prokhorov said on Thursday, “I'll do whatever I can do in order to reach championship here in Brooklyn.”

-- NY Daily News
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Old 07-19-2013, 02:15 AM   #2
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

With Pierce (35), Garnett (37) and Terry (35) having a combined 47 seasons of NBA experience, it’s clear this group wasn’t put together to contend three or four years from now.
The goal is for the Nets to immediately launch themselves into the championship discussion after the team’s first season in Brooklyn ended in a first-round playoff exit at the hands of the Bulls.
In order to do so, all of the high-profile pieces Nets general manager Billy King has assembled over the past year — including holdovers Deron Williams, Joe Johnson and Brook Lopez in addition to fellow newcomer Andrei Kirilenko — will have to accept having reduced roles, something Pierce said he is more than ready to do.

-- NY Post
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Old 07-23-2013, 02:08 PM   #3
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

other owners may be upset, but as i understand it a lot of the penalty money flows back to their revenue streams.

there's also the fact that trying to buy a championship usually doesn't work, especially with stars that are either too young or too old.

so a lot of things... a LOT of things... still have to go very right for the nets to even make the finals. once the razzle-dazzle of all this has passed, the nets are pretty much swimming in the same waters as the other contenders.

also, the NY market brings in way more money than most, not to mention the nets have savaged their drafting for the next several years. nobody should be looking past all the different factors in this equation.
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Old 07-25-2013, 07:20 PM   #4
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

Quote:
Originally Posted by gigantes
other owners may be upset, but as i understand it a lot of the penalty money flows back to their revenue streams.

there's also the fact that trying to buy a championship usually doesn't work, especially with stars that are either too young or too old.

so a lot of things... a LOT of things... still have to go very right for the nets to even make the finals. once the razzle-dazzle of all this has passed, the nets are pretty much swimming in the same waters as the other contenders.

also, the NY market brings in way more money than most, not to mention the nets have savaged their drafting for the next several years. nobody should be looking past all the different factors in this equation.
It's irrelevent unless it affects future teams. IF this fails and then the Nets never spend again, it's a problem. Otherwise it's an owner treating a team like a sports team, pumping money in to win and not concerning himself if he makes a profit.

Spurs have during some of their title years lost money and overspent past their budget. Overspending isn't bad unless you overspend, fail and then decide you need to make up the difference by gutting a future team.
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Old 07-25-2013, 07:56 PM   #5
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

how would the loss of picks and lost financial maneuvering room NOT affect future teams? i'm not saying it's a tragedy for the ages, i'm just saying these will be of some factor. not necessarily the biggest factors, just factors.

prokhy is only projected to lose $50 this year as i understand it. that ain't bad at all, considering the investment as a whole already gained a lot of value and he can obviously afford it. not to mention i would think more revenue will be discovered as the nets brand saturates further in to the NYC market through the years.

IMO the spurs deal is first and foremost about very intelligent drafting and org-building. holt's pockets come somewhere after, but i think buss or arinson or someone like that are much better examples of what you're trying to get at.
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Old 08-08-2013, 01:39 PM   #6
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

During negotiations to create its current collective bargaining agreement, the NBA did its best to limit the amount of money its teams would be able and willing to spend on their rosters by implementing a much more punitive luxury tax system, one that officially goes into effect this season.

But that more punitive system wasn’t enough to prevent the Nets from shelling out millions of billionaire owner Mikhail Prokhorov’s personal fortune this offseason.

Between completing their blockbuster draft night trade with the Celtics, re-signing Andray Blatche and signing Andrei Kirilenko, Shaun Livingston and Alan Anderson, the Nets sent their payroll soaring to more than $100 million for the coming season, which means they’ve also committed to paying a massive luxury tax bill of roughly $87 million next year.

-- NY Post
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Old 08-09-2013, 12:56 AM   #7
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Default Re: Insanely high Nets salaries and luxury tax for 2013-14

IIRC nets strategy is apparently to 'slam on the brakes' in a year or two before the cumulative penalties start to shut down their ability to do basic things, like pay mid-levels and stuff.

even with unlimited money you can't flout the system forever... only for a couple years at a time, it seems.
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