Nets to pay record $90M luxury tax

The Brooklyn Nets will pay a record $90.57 million in luxury taxes for the 2013-14 season, sources told ESPN.com.

The NBA released its audit to teams ahead of the start of the new fiscal year at midnight Wednesday and revealed the numbers, including the Nets' penalty for splurging after trading for Paul Pierce and Kevin Garnett last year. In all, the Nets paid more than $197 million in salaries and luxury taxes this past season. Only three other teams had paid more than $90 million in total tax since its inception in 2001.

As part of the memo, the new salary cap was set at $63.065 million, a 7.5 percent increase from last season. That is slightly less than the $63.2 million estimation teams had been using. Revenues were $4.5 billion, up 5.3 percent from last year. The NBA also made an early projection of $66 million for the 2015-16 salary cap.

The new luxury tax line will be $76.8 million, a 7.1 percent increase from last season's $71.7 million. The luxury tax was estimated to increase to $80 million for the 2015-16 season.

Maximum salaries have gone up, as well. The new values are $14.7 for players with 0-6 years of experience, $17.7 for players with 7-9 years experience and $20.6 for players with 10 or more years in the league. LeBron James' max would be $20.6 million under those terms.

Overall, there were five luxury tax payers. The New York Knicks ($36.3 million), Miami Heat ($14.4 million), Los Angeles Lakers ($8.9 million) and Los Angeles Clippers ($1.3 million) also paid into a pool. Each non-taxpaying team will receive $3 million as part of the dispersal.

I am not a legal expert, how many times do I have to say it?

I am not a legal expert, how many times do I have to say it?

That's awesome for all the small market teams who get a cut of that.

I am not a legal expert, how many times do I have to say it?

If I was that Russian owner, I would demote Billy King to beer vendor, and make him pay off that $90 million luxury tax.

That green light to spend came straight from the top. I don't trust King to make good moves anyway, but he was unleashed by the owner in order to break out the new BKN era in style.

I am not a legal expert, how many times do I have to say it?

The future holds the possibility to be great or terrible, and since it has not yet occurred it remains simultaneously both.

The spending wasn't the problem, it was the garbage it was spent on.

I truly believe this theory.

That may very well be true. We'll find out by tomorrow.

I have MANY years of experience in trying to appreciate steaming piles of dogshit.

yeah we were supposed to find out tomorrow several times already

Adrian Wojnarowski ‏@WojYahooNBA
Houston is finalizing a deal to send Jeremy Lin to the Lakers, league source tells Yahoo Sports.

Yes it is.

When this is all over, which is not going to be for a while, Trump will be re-elected President.

I am not a legal expert, how many times do I have to say it?

Adrian Wojnarowski ‏@WojYahooNBA
The Chicago Bulls are gauging interest with free agent Dwyane Wade, league sources tell Yahoo Sports.

Yes it is.

When this is all over, which is not going to be for a while, Trump will be re-elected President.

Yes it is.

When this is all over, which is not going to be for a while, Trump will be re-elected President.

Marc Stein ‏@ESPNSteinLine
ESPN sources say Mike Miller is indeed exploring every option to try to reunite with LeBron James in Cleveland after halting talks w/ Denver

Yes it is.

When this is all over, which is not going to be for a while, Trump will be re-elected President.

Bosh goes back to Miami, per Woj. Trying to sign Wade now.

I'm a big dumb shitlib baby

Yeah, go figure. He wanted the extra year.

Bosh goes back to Miami, per Woj. Trying to sign Wade now.

Terrible move for Miami. Bosh has to be happy, as long as he doesn't care about winning more titles.

My wife said 2 things about Bernstein today:

"He sounds like a man that was never challenged to be a man."
"He gives a lot of opinions without probably having many life experiences."

Miami is somewhere around the 6,7,8 seed in the Eastern Conference with Wade. They are simply the Toronto Raptors South with only Chris Bosh.

They're a lottery team with Wade.

My wife said 2 things about Bernstein today:

"He sounds like a man that was never challenged to be a man."
"He gives a lot of opinions without probably having many life experiences."

Don't discount the complete ineptitude of the Eastern Conference.

My wife said 2 things about Bernstein today:

"He sounds like a man that was never challenged to be a man."
"He gives a lot of opinions without probably having many life experiences."