If the Nets land Dwight. The Russian will have to pay 143 million in luxury taxes

[killa kadafi191]

and doesn't give a fuck

The only issue: Prokhorov is going to have to go deep into luxury tax territory over the next few seasons.

In case you don't know, NBA teams have to pay a tax if their total team salary goes over $70.3 million. Right now, the tax is dollar for dollar, so if you are $5 million over the luxury tax line, you pay $5 million in taxes. But starting in 2013-14, the tax comes far more punitive.

We crunched the numbers, estimating the Nets team salaries for every season between now and 2015-16. Then, with the help of Larry Coon's amazing CBA FAQ, we calculated how much the Nets would potentially owe in luxury taxes if they got Dwight.

What we found is that Prokhorov will owe a grand total of ~$142.9 million in luxury tax payments over the next four seasons.

Read more: http://www.businessinsider.com/nets-luxury-tax-dwight-howard-trade-2012-7#ixzz1zekHJezZ

Seriously though.

This guy deserves some props in 3 years he did the damn thing. He put money to finally get the arena built

 

[OutlawR.O.C.]

If they can get him I know my knicks should be able to, I don't know why they aren't making the effort

 

[keone]

that aint shit to him. his buddy roman gets 700 mill euro on interest alone

 

[IT IS WHAT IT IS]

Dude made damn near wipe his ass with that shit.... Holding for real!!

 

[killa kadafi191]

If they can get him I know my knicks should be able to, I don't know why they aren't making the effort

Because Dwight keeps telling teams he will leave.

Dwight keeps saying it's only one team he wants which fucks up Orlando

 

[IT IS WHAT IT IS]

If they can get him I know my knicks should be able to, I don't know why they aren't making the effort

Man that Nicca don't want to play with black hole on offense ass Melo man... He's seen first hand how Melo has fucked up Amare's 'Stats'

 

[BDR]

Proky. "I have a lot of money, 145 million? No problem. Stern is my bitch"

 

[Amajorfucup]

"I am epic win...143million for luxury tax? I has it."

 

[killa kadafi191]

Reports came out last night that Mark Cuban wanted no part of the new luxury tax. Mavericks told Deron they would improve but wanted no part of the luxury tax

 

[daman200]

Orlando in no hurry. I like that . Get the best deal possible. If nets want him make them wow you. So far the nets offer sucks they need a third team to help make the deal better.

After the trade I hope Dwight back acts up then nets pay 140 million with no center. Lol

 

[ugk]

"Luxury tax? I spend more money on vodka in a day"

 

[shaddyvillethug]

new running joke on bgol?

 

[BrownTurd]

For owners who make 90% of their money from other businesses. I guess owning a team is more of a hobby and making huge profits is not such a huge deal to them.

 

[killa kadafi191]

Orlando in no hurry. I like that . Get the best deal possible. If nets want him make them wow you. So far the nets offer sucks they need a third team to help make the deal better.

After the trade I hope Dwight back acts up then nets pay 140 million with no center. Lol

They are in no hurry cause Dwight keeps fucking things up.

Dwight would be in LA right now if he would agree to sign an extension.

Bet you thought everything was all good when he opt in

 

[Darrkman]

For owners who make 90% of their money from other businesses. I guess owning a team is more of a hobby and making huge profits is not such a huge deal to them.

That really is the difference between large market and small market teams. The Knicks and Lakers could absorb the luxury tax easily from their TV deals.

 

[killa kadafi191]

That really is the difference between large market and small market teams. The Knicks and Lakers could absorb the luxury tax easily from their TV deals.

Jim Buss wants no part of the new luxury tax. He has said this many times

 

[sj808]

Proky I believe is the 2nd or 3rd richest owner in the WORLD, all sports (if I remember... someone posted it on here awhile back too).



This dude obviously has a bunch of fucks he aint going to give.

 

[killa kadafi191]

Proky I believe is the 2nd or 3rd richest owner in the WORLD, all sports (if I remember... someone posted it on here awhile back too).



This dude obviously has a bunch of fucks he aint going to give.

Others making the cut: Russians Mikhail Prokhorov (worth $13.2 billion), owner of the NBA’s New Jersey Nets and Roman Abramovich ($12.1 billion), who controls Chelsea F. C of the English Premier League. The U.S. contingent is concentrated in the NBA: Miami Heat’s Micky Arison ($4.7 billion) and the Orlando Magic’s Richard DeVos $5 billion), along with the multi-team sports tycoons Allen and Philip Anchutz ($7 billion).

 

[Jesuschrist]

small market teams mostly that dick head in Cleveland has ruined the nba. i really wish the nba would get rid of the cavs, kings bucks, bobcats, hornets and pacers. get rid of the bottom feeders and let free market reign. i just find it funny that most of these owers would be marching with the tea party but is willing to take the money of richer owners

 

[cranrab]

$143M over 4 years isn't that large a penalty even under the new CBA. especially when you consider that they project that the nets may exceed the luxury threshold by as much as 25%

$35.75M per year. to put that in perspective 2 seasons ago, the magic, the mavericks and the fakers were all paying $19M-$20M in luxury tax penalties. the knicks have paid as much as $45M in luxury tax in a SINGLE season.



owners not exceeding the luxury tax are fine to let other teams payroll balloon. they all get a share of the tax collected.

 

[DirtyCake]

isnt the goal of owning a team to make money though?

 

[gtg305h]

I refuse to believe that Proky would do that for too long...you don't become a multi-billionaire by being a dumb businessman and hemorrhaging $150 million per year is dumb business...so since Jay is 2% owner, will Hov be on the hook to pay out $3 mill a year just to put that team on the floor?

Also, isn't there a rule in the CBA that prevents teams from having 3 Max contracts? I thought that's why the MIA guys each took a little less, ultimately....

 

[Brother Blues]

 

[cranrab]

you don't become a multi-billionaire by being a dumb businessman and hemorrhaging $150 million per year is dumb business.

where do you get this from?

 

[Mack1052]

I refuse to believe that Proky would do that for too long...you don't become a multi-billionaire by being a dumb businessman and hemorrhaging $150 million per year is dumb business...so since Jay is 2% owner, will Hov be on the hook to pay out $3 mill a year just to put that team on the floor?

Also, isn't there a rule in the CBA that prevents teams from having 3 Max contracts? I thought that's why the MIA guys each took a little less, ultimately....

Its not a 150 for a year, its 150 divided through 4 years

Sent from my SGH-T959 using Tapatalk 2

 

[killa kadafi191]

I refuse to believe that Proky would do that for too long...you don't become a multi-billionaire by being a dumb businessman and hemorrhaging $150 million per year is dumb business...so since Jay is 2% owner, will Hov be on the hook to pay out $3 mill a year just to put that team on the floor?

Also, isn't there a rule in the CBA that prevents teams from having 3 Max contracts? I thought that's why the MIA guys each took a little less, ultimately....

1. Miami big 3 was formed before the new CBA was even voted on. Hell it's not even fully in yet. 2014.

The Miami Heat took less so Pat could keep Haslem and they took less because they switch teams. Wade didn't though he is getting more money because the Heat owned his bird rights.

No Proky said he has it. He paid to settle all of the lawsuits to get the arena started and everything else. This is his pockets.

According to Proky and his second in command the luxury tax is not a worry for him. In his mind he will be the guy who turned the laughing stock nets respectable.

He was able to beat out fellow Billionaire Mark Cuban.

 

[HotSauce161]

I refuse to believe that Proky would do that for too long...you don't become a multi-billionaire by being a dumb businessman and hemorrhaging $150 million per year is dumb business...so since Jay is 2% owner, will Hov be on the hook to pay out $3 mill a year just to put that team on the floor?

Also, isn't there a rule in the CBA that prevents teams from having 3 Max contracts? I thought that's why the MIA guys each took a little less, ultimately....

Check the math. it's $142.9 million total over the 4 year span not each year. He can afford that easily if he wanted to.

The Big 3 took less so the team could afford to sign Haslem. They took less $ so that the team wouldn't suck as much.

 

[cranrab]

Check the math. it's $142.9 million total over the 4 year span not each year. He can afford that easily if he wanted to.

right?

the new york knicks paid $131M in luxury tax over 5 seasons. adjust for current (and future dollars), that projection for the nets still isn't as daunting as it may sound to some.

makes you wonder if the people who produced the estimate considered the repeater tax though.

 

[gtg305h]

1. Miami big 3 was formed before the new CBA was even voted on. Hell it's not even fully in yet. 2014.

The Miami Heat took less so Pat could keep Haslem and they took less because they switch teams. Wade didn't though he is getting more money because the Heat owned his bird rights.

No Proky said he has it. He paid to settle all of the lawsuits to get the arena started and everything else. This is his pockets.

According to Proky and his second in command the luxury tax is not a worry for him. In his mind he will be the guy who turned the laughing stock nets respectable.

He was able to beat out fellow Billionaire Mark Cuban.

I see what you saying kadafi, but if you look below:

Teams above the apron cannot use the Bi-Annual exception (see question number 25).
Teams above the apron have a smaller Mid-Level exception (see question number 25). Teams above the apron can offer contracts no longer than three years, while other teams can offer four. The starting salary is also lower (for example, in 2011-12 it is $3 million for teams above the apron, versus $5 million for other teams).
Taxpaying teams can acquire less salary in a simultaneous trade (see question number 81).
Starting in 2013-14, teams above the apron cannot receive a player in a sign-and-trade transaction (see question number 88).
Teams above the apron do not have the same protections under the Gilbert Arenas provision (see question number 44). Under the Arenas provision other teams can offer restricted free agents salaries starting at the Non-Taxpayer Mid-Level exception. If a team with the right of first refusal does not have Early Bird rights to the player and is over the apron, it will have only the smaller Taxpayer Mid-Level exception at its disposal, and cannot match an offer for the full Non-Taxpayer Mid-Level exception.

From nba.com


It doesn't make sense for Prok to handcuff his team just to run 3 big names on the floor, based on the above restrictions, They wouldn't be able to really improve their team year on year

We'll see though....

 

[D-TOWN REP]

Reports came out last night that Mark Cuban wanted no part of the new luxury tax. Mavericks told Deron they would improve but wanted no part of the luxury tax

And I can't fault Deron one bit

He has a owner now who is what Cuban used to be

You don't spend you don't win Cuban

Sell the fuckin team

 

[theoriginalgreatone]

I hope he's successful.

 

[curryshotta]

35 mill per year doesnt phase Proky man

 

[D-TOWN REP]

This dudes money is too long for even this new CBA

It has priced out guys like Cuban and even the Buss family(to an extent)

But not this dude, not one single fuck is given

 

[Nzinga]

small market teams mostly that dick head in Cleveland has ruined the nba. i really wish the nba would get rid of the cavs, kings bucks, bobcats, hornets and pacers. get rid of the bottom feeders and let free market reign. i just find it funny that most of these owers would be marching with the tea party but is willing to take the money of richer owners

Free market? You have been imbibing Republican propaganda; The whole edifice of American sports is the worst sort of communism and has nothing whatsoever to do with market forces. The MLB, the NFL, the NBA, the MLS are a closed club where only the current members can be members. Everyone else is locked out. They monopolise all the money and marketing to exclusionary impoverishment of every one else. In Europe and everywhere else, there is no guaranteed membership. Every year, the bottom 4 teams in the league are relegated to the lower division, the top 4 teams in the lower league are promoted in their place. This means that you could start your own sports teams, and merit your way to the top league in a matter of years.

When the Glazers who own the Tampa Bay Bucs bought Manchester United, they could not stomach the arrangement in England and suggested that demotion should be eliminated. The people of England said no.

That my friend is the greatest market force

 

[DAHITMAN]