Books show Nets with $44 million loss in 2008-09 season

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Did NBA teams lose money last year? And if so, really how much?

In the absence of the owners and players union sitting down and actually talking, the question of loss has become the talking point of the NBA lockout. There has been plenty of back-and-forth between the NBA and the players union — and we can throw in the New York Times — about this subject.

Darren Rovell at CNBC did something smart — when Bruce Ratner’s Nets Sports & Entertainment LLC owned the Nets, the books were public. Still are. So Rovell went and looked at them and broke down the year before the team was sold to Mikhail Prokhorov.

What he found is that while the reported loss by the team that year was $77 million, wipe out the amortization — which the league says it does not include in it’s loss numbers — and the loss falls to $44 million.

But that’s where the controversy starts on how the owners and players define losses and responsibility for those losses.

I said that there were two other numbers, which could be disputed. Let’s look at those. The first one is depreciation, which in this sense is the allocation of costs distributed over a certain period of time. In this case, the reported depreciation by Nets Sports & Entertainment is $2,041,611.

The players association says that depreciation shouldn’t be included in the losses. The owners say it absolutely should because it does reflect the cost of expenses that could be related to growing revenues. If the players get a certain percentage of revenues, the owners claim they should be responsible for some of the costs to get to those higher revenues.

The other disputed number is interest. The Nets for the 2008-09 season had $13,412,981 in interest. The players association again says that that shouldn’t be included in the losses. With depreciation, the actual loss might not be taken in the year it is credited to. With interest, the ownership is actually writing a check. The players can argue they shouldn’t share in this, but there’s no debate that that is a real loss.

I tend to side with the players on interest — it is not their responsibility if an owner took out loans to buy a team. But for fun, even if you wipe depreciation and interest off the books, the Nets still lose in the neighborhood of $28.5 million. That’s a chunk of change. You can see why an owner would be frustrated.

There needs to be some balance in the system. Should some of that kind of loss be covered by revenue sharing from larger market owners? Yes. Should a reduction in players’ salaries (via a reduced share of basketball related income) be part of it? Yes. But the Nets were bad and played in a bad building, and if an owner loses money because of that I have a hard time thinking the players should cover too much of the losses.

Kevin Durant and Russell Westbrook go head-to-head, literally (video)

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This sure didn’t look like just another game for Kevin Durant – and not only because the Thunder beat the Warriors for the first time since he left.

The 108-91 Oklahoma City victory didn’t look like just another game for Russell Westbrook (34 points, 10 rebounds, nine assists and four steals), either.

Harrison Barnes banks in game-winning, buzzer-beating 3-pointer (video)

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With the shot clock off in the fourth quarter and the game tied, Grizzlies big JaMychal Green put back Tyreke Evans‘ miss with a clutch flush. There’s a very fine line between ensuring the last shot and leaving time for an offensive rebound, and Memphis threated it almost perfectly.

Emphasis on “almost.”

The Grizzlies left the Mavericks 0.5 seconds, which Harrison Barnes used to bank in a 3-pointer – off a pinpoint bounce pass by Dennis Smith Jr. – to give Dallas a 95-94 win.

Heat snap Celtics’ 16-game winning streak

AP Photo/Lynne Sladky
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The Celtics didn’t have another comeback in them.

After overcoming a 13-point fourth-quarter deficit against the Mavericks on Monday to extend its winning streak to 16 games, Boston lost to the Heat tonight, 104-98. The streak ends as the NBA’s longest since the Hawks won 19 straight during the 2014-15 season.

The Celtics trailed Miami by 16 in the fourth quarter then cut the deficit to only one with three minutes left. But Dion Waiters hit back-to-back 3-pointers, helping the Heat pull away.

Goran Dragic (27 points) and Waiters (26 points) led Miami, which needed a reason to feel good after losing three of four to fall to 7-9.

The Celtics, on the other hand, still have a four-game cushion over the rest of the Eastern Conference. This might help them regain focus.

Serge Ibaka gets dunked on by Enes Kanter, hit in face by ball (video)

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Is Enes Kanter mad Serge Ibaka rifted with his family?

(No, not this family. That family.)