We can compare the Leafs to the Cubs and Red Sox of MLB. They'll always have the support of their fans regardless of whether they win. And because of that, the Leafs will always be profitable.
But with the Raptors, they don't have the same uncondintional support of their fan base (regular and corporate), which means that to sustain the profitablity of the team, the team needs to be a winner. Te fact that BC confirmed that MLSE is prepared to spend over the luxury tax beginning next season is good news since there's no way the team can get better on the court and in the standings (and in the financial earning reports) unless the team does spend more money on the improving the team's personel.