Newly acquired Net's Pierce, Garnett and Terry hold up their new jerseys as they pose for a photo with principal owner Prokhorov after a news conference in Brooklyn

Brooklyn Nets tax bill could be $87 million for next season

32 Comments

The largely free market loving, Republican owners of the NBA teams pushed hard in the last Collective Bargaining Agreement for something that you would think goes against their nature — an increased and very stiff tax structure that sets up a more socialist system. (They would argue the system is needed for the growth of the overall sport.)

But the tax penalty only works if an owner is afraid to pay it.

Brooklyn Nets own Mikhail Prokhorov laughs at it. Or at least isn’t going to blink writing a very large check.

With the addition of Alan Anderson on a minimum deal, the Nets will have a payroll of $102,211,009 next season (figures via Hoopsworld). The NBA’s salary cap is set at $58.7 million for next season, the luxury tax line is $71.7 million (meaning the new escalating taxes start at that figures). Marc Stein of ESPN did the math from there for TrueHoop:

Adding Anderson on a minimum deal nudges those figures to $30,463,009 (dollars over the tax line) … and a mind-numbing $87,199,293 (in taxes due)

So the signing of a player due to make just under $1 million next season will cost Brooklyn more than $4 million in additional taxes under the league’s much more punitive tax laws that go into effect this season.

The tax the Nets will pay will be based on their salary figures on the last day of the regular season, so it is possible for the Nets to make moves to lower that number.

But it doesn’t look like Mikhail Prokhorov wants to — he wants to win at any cost. So he will write a big check at the end of the season. What kind of winning he will get for that remains to be seen, but I don’t think it’s the title he is looking for.

Hassan Whiteside with one-handed catch block (VIDEO)

Leave a comment

Hassan Whiteside recorded a triple-double last night against the Hornets, and his tenth block was particularly impressive. He didn’t so much block Marvin Williams‘ layup attempt as pluck it out of the air with one hand. It almost looks like it should count as a block, rebound and steal at the same time.

Rasheed Wallace delivers truck full of water to residents of Flint, Michigan

MILWAUKEE - FEBRUARY 07: Rasheed Wallace #30 of the Detroit Pistons reacts after being called for a technical foul against the Milwaukee Bucks on February 7, 2009 at the Bradley Center in Milwaukee, Wisconsin. The Pistons defeated the Bucks 126-121 in overtime. NOTE TO USER: User expressly acknowledges and agreees that, by downloading and/or using this Photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Jonathan Daniel/Getty Images)
1 Comment

The NBA world has taken notice of the water crisis in Flint, Michigan. In Thursday night’s home game against the Knicks on TNT, Pistons players wore warmup shirts that read “FLINT NOW,” and the organization announced a $500,000 donation towards providing clean water for residents of the town.

Former Pistons great and general basketball legend Rasheed Wallace went even further, according to a tweet from his alma mater, the University of North Carolina:

Sheed obviously has a connection to Michigan, having played in Detroit for six years (including on the 2004 title team) and serving as an assistant coach for the Pistons during the 2013-14 season. This was an incredible gesture by him for the residents of a town that has been without drinkable water for a long time.

DeMarcus Cousins posts triple-double in Kings’ loss to Nets (VIDEO)

Leave a comment

The Kings are a complete mess right now. After a loss to the Nets on Friday night, the team is reportedly considering firing head coach George Karl, who has been with the team for just about one year, and DeMarcus Cousins says they have “a bigger issue than the players.”

But, on the bright side, Cousins is still a monster on the court. During the Nets loss, he posted a triple-double with 24 points, 10 rebounds and 10 assists, showing why he’s the one thing about this franchise that is going to be worth talking about long-term.

Lil’ hype man helps Russell Westbrook introduce Air Jordan XXX

Leave a comment

Russell Westbrook has been wearing the new Air Jordan XXX on the court for nearly a month now. Considering he’s averaging a triple-double in his last 10 games — 22 points, 12 assists, 10 rebounds — I’d say he’s pretty comfortable in them.

Continuing a trend of using the respected Jordan brand name with modern players to sell the shoes, this latest ad for the Air Jordan XXX shoes features a young hypeman who describes Westbrook as “the new Big Bang,” and asks people to “make room – as the man is about to take off.”

The Air Jordan XXX hit retail stores on Feb. 12. Westbrook will be wearing them next weekend in Toronto for the All-Star Game.