Page 1 of 2 1 2 LastLast
Results 1 to 20 of 38

Thread: Nets Luxury Tax Bill Is More Than The Raps Payroll!l

  1. #1
    Raptors Republic Veteran LBF's Avatar
    Join Date
    Jan 2010
    Location
    Hamilton,ON a.k.a. The Hammer!
    Posts
    5,323
    Post Thanks / Like

    Default Nets Luxury Tax Bill Is More Than The Raps Payroll!l

    The Nets luxury tax bill figures to be over $10 million more than the Toronto Raptors payroll for the upcoming season.

    ESPNís Marc Stein broke out his calculator and crunched the numbers after Alan Andersonís signed on with New Yorkís other team and it worked out that the Nets payroll next season will be $30,463,009 over the luxury tax threshold. That will leave them with a staggering tax bill of $87,199,293 at seasonís end on top of their payroll which is set to be around $99 million.

    That also means Andersonís NBA minimum salary of $947,907 will actually cost Brooklyn around $5 million next season.

    In case you wondering, the Raptors are currently set to pay out somewhere between $65 and $70 million next season.
    http://www.sportsnet.ca/basketball/n...ss-80-million/

    Alan Anderson costing 5 million?! And you guys are complaining about Fields...haha
    If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

    Sometimes, I like to buy a book on CD and listen to it, while reading music.

  2. #2
    Raptors Republic All-Star Craiger's Avatar
    Join Date
    Jun 2012
    Posts
    1,119
    Post Thanks / Like

    Default

    this is how NBA lockouts happen

  3. Like Joey liked this post
  4. #3
    Raptors Republic Veteran rocwell's Avatar
    Join Date
    Mar 2013
    Posts
    5,630
    Post Thanks / Like

    Default

    Quote Craiger wrote: View Post
    this is how NBA lockouts happen
    Well, half of tax bill money will go to the other NBA teams. So I have no problem with that!

  5. Like Letter N liked this post
  6. #4
    Raptors Republic Starter
    Join Date
    Jun 2010
    Posts
    937
    Post Thanks / Like

    Default

    By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).

  7. #5
    Raptors Republic Veteran LBF's Avatar
    Join Date
    Jan 2010
    Location
    Hamilton,ON a.k.a. The Hammer!
    Posts
    5,323
    Post Thanks / Like

    Default

    Quote octothorp wrote: View Post
    By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).
    I want to vomit at the thought
    If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

    Sometimes, I like to buy a book on CD and listen to it, while reading music.

  8. #6
    Raptors Republic Veteran
    Join Date
    Nov 2009
    Posts
    5,020
    Post Thanks / Like

    Default

    Prokhorov will just open up another precious metals mine (probably a shaft will do) in Siberia to pay the taxes. No problem. Some of the funds as well will be set aside in a local bank to compensate the underpaid Kirilenko.

    #farfetchedsarcasm?

  9. #7
    Raptors Republic All-Star Letter N's Avatar
    Join Date
    Jul 2010
    Posts
    1,415
    Post Thanks / Like

    Default

    I don't mind this, if someone wants to spend the money to win go for it, it helps all the poor teams.

    I also don't think it's a bad strategy....in fact I think it's Brooklyn's only strategy. You only get one chance at a first impression and if you suck it doesn't matter how hip your logo and jersey are you'll simply be the other NY team.

  10. #8
    Raptors Republic Rookie
    Join Date
    Mar 2012
    Posts
    49
    Post Thanks / Like

    Default

    Quote Letter N wrote: View Post
    I don't mind this, if someone wants to spend the money to win go for it, it helps all the poor teams.

    I also don't think it's a bad strategy....in fact I think it's Brooklyn's only strategy. You only get one chance at a first impression and if you suck it doesn't matter how hip your logo and jersey are you'll simply be the other NY team.
    Well as a league they are doing pretty much all they can to stop things like that beyond a hardcap. & yeah, a winning or at least contender in the first few years can do tons for establishing a new brand. Look how its worked in a small area like OKC...the NY market is a goldmine.

  11. #9
    Raptors Republic Rookie
    Join Date
    May 2011
    Posts
    96
    Post Thanks / Like

    Default

    Quote octothorp wrote: View Post
    By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).
    Prokhorov has a 13 billion dollar net worth. He could give a rats ass about 200 million dollars. He probably makes that much money in a day.

  12. #10
    Raptors Republic Veteran LBF's Avatar
    Join Date
    Jan 2010
    Location
    Hamilton,ON a.k.a. The Hammer!
    Posts
    5,323
    Post Thanks / Like

    Default

    Quote DG88 wrote: View Post
    Prokhorov has a 13 billion dollar net worth. He could give a rats ass about 200 million dollars. He probably makes that much money in a day.
    I'm pretty sure Net worth is not the same as spending money. But I've been wrong before

    Anyone care to confirm?
    If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

    Sometimes, I like to buy a book on CD and listen to it, while reading music.

  13. #11
    Raptors Republic All-Star
    Join Date
    Nov 2009
    Location
    Cambridge, ON
    Posts
    1,271
    Post Thanks / Like

    Default

    Quote LBF wrote: View Post
    I'm pretty sure Net worth is not the same as spending money. But I've been wrong before

    Anyone care to confirm?
    In theory, his net worth is the amount he could have if he cashed out on all his investments right now. Even assuming he takes a 20% or so hit by selling, that leaves over 10 B. At $200,000,000 per year, and assuming only half his expenses are basketball team related, that means in 25 years he runs out of money.

    But the reality is that he is earning money constantly, even just looking at the basketball side of things, in 2012 the Nets brought in 84 M in revenues versus about 100M in total costs. I imagine that goes up with more success. So the impact is probably halved at the least just through basketball income, let alone his substantial other income. So yes, he'd be pissing away his fortune, but it would be a long trip to the urinal.

  14. Like vino, JawsGT liked this post
  15. #12
    Raptors Republic Starter
    Join Date
    Jan 2012
    Posts
    503
    Post Thanks / Like

    Default

    "Deel weet eet" - Mikhail Prokhorov

  16. Like Fully liked this post
  17. #13
    Raptors Republic All-Star Fully's Avatar
    Join Date
    Jul 2010
    Posts
    1,118
    Post Thanks / Like

    Default

    I'd much rather see guys like Prokhorov spending big (albeit recklessly) to try and win a championship over an ownership group like OKC's who appear unwilling to go a cent over their budget even if it costs them a chance to win it all.

  18. Like Letter N, vino liked this post
  19. #14
    Raptors Republic All-Star JawsGT's Avatar
    Join Date
    Mar 2013
    Posts
    1,315
    Post Thanks / Like

    Default

    I hope this team fails miserably

  20. Like enlightenment liked this post
  21. #15
    Administrator Apollo's Avatar
    Join Date
    Nov 2009
    Posts
    11,994
    Post Thanks / Like

    Default

    Billionaires and the toys.

  22. #16
    Raptors Republic Rookie vino's Avatar
    Join Date
    Jan 2010
    Posts
    191
    Post Thanks / Like

    Default

    Just a few random thoughts:

    1. Share the OKC versus Nets ownership sentiment! Wouldn't it be nice to see MLSE go into tax range (with a reason - building up a contender, of course)?!
    2. The Nets are not done. They may not win it next season, but there is still time on Proharov's watch for the next off-season to make some changes... right pOOka?!

  23. #17
    Raptors Republic Veteran
    Join Date
    Nov 2009
    Posts
    5,020
    Post Thanks / Like

    Default

    Quote Fully wrote: View Post
    I'd much rather see guys like Prokhorov spending big (albeit recklessly) to try and win a championship over an ownership group like OKC's who appear unwilling to go a cent over their budget even if it costs them a chance to win it all.
    I hope there is a bit of tongue in cheek in that. The CBA was tightened up to avoid that kind of recklessness. Even other "big boys" have started to curb their overthecap spending habits. Even with all that spending I believe that team is unlikely to go deep into the playoffs...and even so it will be a one-off and soon to crash with very little prospect for the future having given away their draft picks. It is an unsustainable model, shortsighted, no guarantees and not one that true Nets fans of bb can applaud. I thought OKC could have bit the bullet last year to achieve a ring and probably have ended with a lesser haul after Harden became a RFA but they chose differently.

    ps...I also believe Prokhorov has a battle of wits he is waging against Dolan in NY...their own mini economic/pissing contest.

  24. #18
    Raptors Republic All-Star Letter N's Avatar
    Join Date
    Jul 2010
    Posts
    1,415
    Post Thanks / Like

    Default

    Bendit: I find that first point about CBA wanting to avoid such situations is poor economics. Big, free-wheeling spending combined with revenue sharing brings money for the entire league. Baseball needs teams like the Yankees to have global reach, soccer needs teams like Barcelona and Man United for the casual fan to give a damn. Parity is all well and good for the hardcore fan but at the end of the day leaves half your clubs struggling to survive like the NHL. In fact the NHL should learn a little something (a lot of things actually) from the NBA and allow going over the cap with just a penalty/tax that gets divied up to the have-nots of the league.

    And Prokhorov is definitely battling Dolan, but more than just egos they're battling for the big piece of a billion dollar pie.

  25. Like planetmars, vino liked this post
  26. #19
    Raptors Republic All-Star Fully's Avatar
    Join Date
    Jul 2010
    Posts
    1,118
    Post Thanks / Like

    Default

    Quote Bendit wrote: View Post
    I hope there is a bit of tongue in cheek in that. The CBA was tightened up to avoid that kind of recklessness. Even other "big boys" have started to curb their overthecap spending habits. Even with all that spending I believe that team is unlikely to go deep into the playoffs...and even so it will be a one-off and soon to crash with very little prospect for the future having given away their draft picks. It is an unsustainable model, shortsighted, no guarantees and not one that true Nets fans of bb can applaud. I thought OKC could have bit the bullet last year to achieve a ring and probably have ended with a lesser haul after Harden became a RFA but they chose differently.

    ps...I also believe Prokhorov has a battle of wits he is waging against Dolan in NY...their own mini economic/pissing contest.
    I wasn't talking specifically about Brooklyn's moves this summer and the last; my original statement was meant more in a macro sense. As a fan, I would much prefer my owner have the free spending gun-slinger mentality where he's attempting to win at any cost over an owner whose desire to win it all stops abruptly once it begins to decrease their profit margin.

  27. Like planetmars liked this post
  28. #20
    Raptors Republic Veteran
    Join Date
    Nov 2009
    Posts
    5,020
    Post Thanks / Like

    Default

    Quote Letter N wrote: View Post
    Bendit: I find that first point about CBA wanting to avoid such situations is poor economics. Big, free-wheeling spending combined with revenue sharing brings money for the entire league. Baseball needs teams like the Yankees to have global reach, soccer needs teams like Barcelona and Man United for the casual fan to give a damn. Parity is all well and good for the hardcore fan but at the end of the day leaves half your clubs struggling to survive like the NHL. In fact the NHL should learn a little something (a lot of things actually) from the NBA and allow going over the cap with just a penalty/tax that gets divied up to the have-nots of the league.

    And Prokhorov is definitely battling Dolan, but more than just egos they're battling for the big piece of a billion dollar pie.
    "...combined with revenue sharing...". If it were only true. I confess not to know the details of whatever rev. sharing regs. there are but I would bet it does not come close to those enacted by the NFL. Parity isnt so bad...the NFL is the most successful of them all with parity and real (as real asonecan have it) revenue sharing. I also point out that Barcelona (publicly owned) and MU have exceptional debt loads (in the half billion $ plus range) to build their brand. No doubt the banks keep them solvent simply because the equity in the clubs are great. And what of the leagues these clubs inhabit? Seriously, only 2-3 other clubs have an outside chance of winning their league championship. Soccer as you know subsidize their coffers and their fan interest by participating in a myriad of other in-season international championship contests and is the most played, eyeballed and bet-on game on the planet. I dont think it's a fair comparision to the NBA. I dont even know where to begin re your admiration for the Yankees...so I wont other than I dont know a more disliked team in pro sports in N. America because of the sheer elitism their economic clout (location/history) allows them. The NHL's major problem is expansion to geographic areas with demographics not in tune with the game. They have also diluted their player quality as a result but they are learning to share and have certainty of costs with a view to parity.

    I concede that Prokhorov & Dolan are anomalies and will be drawn in by the reality of the CBA at some point as others have been (Cuban, Buss). Another Miami is unlikely...too many on that team have taken personal shaves on their stipends and have bucked the greed is good principle...until of course they tire of it. My own view is that if the vast majority of the franchises have an equal shot at acquiring/retaining top tier talent using a hard cap system, this will result most often in competitve contests and hence generate the most interest and sustain this. Teams who fail with equal opportunity provided will do so most likely due to its own bad management. As a fan of an outlier team that is all I can ask for....not be a subservient part of an org. which allows but 3-5 of 30 members to constantly drink the good stuff. That is just not fair.

    ps...there is much written on this subject in these forums prior to the lockout....thats if you are interested

Page 1 of 2 1 2 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •