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The Celitcs 1 of 6 teams that will pay tax for last season

Posted by shawn cassidy on July 10, 2013 at 5:35 AM


Look at him up there. He's thinking of ways to take your money. Even in his final months as a corrupt leader.



ESPN

The Lakers, according to official league figures obtained by ESPN.com, will be forced to pay $29,259,739 in luxury tax for a team that -- thanks to a steady stream of injuries and L.A.'s well-chronicled chemistry problems that ultimately led to Dwight Howard's defection in free agency -- barely squeaked into the playoffs and will go down as one of the biggest underachievers in league history.

The figures distributed late Tuesday to the league's 30 teams reveal only five other teams facing tax bills for the 2012-13 payrolls: Miami ($13,346,242), Brooklyn ($12,883,647), New York ($9,962,406), Chicago ($3,932,336) and Boston ($1,181,640).

Luxury-tax penalties in the NBA will be much steeper starting with the coming season, which ushers in a more punitive scale for roster excess than seen during the first two seasons of the NBA's labor agreement introduced in December 2011.

The Nets, for example, are projected at this early juncture to have a tax bill in the $75 million range despite carrying a similar overall payroll (roughly $100 million) to what the Lakers did in 2012-13.

The tax amounts for last season were based on a dollar-for-dollar tax above the per-team threshold of $70.307 million.

Fifty percent of the total tax of $70,566,010 paid by the six teams above, according to the 2011 labor agreement, will be used to fund revenue sharing for the 2012-13 season. The remaining 50 percent will be distributed in equal shares to each non-taxpaying team.

Sources told ESPN.com that each non-taxpaying team will thus receive 1/24th of $35,283,005, which computes to $1,470,125 per team.

The six taxpaying teams, sources say, will receive an invoice by Monday and must remit their required payment by July 24. Escrow and tax distributions are scheduled to be made back to teams no later than July 29.



Will the Lakers, and Heat continue to pay this tax every year? Was this a move to make the league more competitive? IF so has it worked yet? That's what we were told. The Celtics in reality didn't give up much. They were smart about it. They had a roster that started out the season ready to beat the Heat, but that story is old news. The Nets owner is fifthly rich, he can afford that now and moving forward . The Lakers seem to be willing to pay that, although some reports recently suggest that they want to cut costs more so in the future. The Heat are going to spend as long as they can,or as long as they win banners. But like I have been saying. The team will have to decide on depth, or three stars, instead of maybe just two stars.  

Categories: NBA News

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1 Comment

Reply paul
6:37 AM on July 10, 2013 
Make Steve Nash pay it.