Brooklyn Nets to pay record $90M luxury tax *smfh*

[No Homo]

Watch the sixers rise from the ashes in a couple years while the Nets slide into Bolivian


Is nice to see billy crippling other teams like he did us with that Kenny Thomas contract style

Feels like we're still paying Matt Geiger

Worse GM in the league

Instead of handing out bad contracts like before with philly, hes trading for bad contracts and giving away picks now

 

[SwagKingKong]

A shytty investment that isn't yielding any returns is still not ideal.

This is not what he bought the team for.

shytty investment? what the fukk?

He bought the team at a stupid low price, he could probably sell the team for 10x today. Not to mention that part of the deal of buying the Nets and moving them, netted him a 45% stake in the barclays center AND an option to buy up to 20 % of the atlantic yards project right next to barclays. This is largely the reason he bought the Nets, dude is a real estate guy. He knows what he's doing, you think he stumbled upon all his billions

He's losing money on the Nets, sure. But that doesn't factor in whatever he's making off the barclays center (remember, they're hosting what, over 200 events per year) and the money he'll make from the atlantic yards project.

 

[No_bammer_weed]

I think what people are failing to realize here is that he's paying 90m strictly on the punitive tax imposed by the league. That doesnt include the actual salaries for the players, which I believe is in excess of 100m, or at least close to it. It total, Prok is paying close to 200m for a going nowhere team, and when it comes to wealth and revenue the nets arent even approaching other far more valuable franchises. In addition, other organizations are spending a fraction of that amount with much better results. I dont care how much Prok is worth, he's throwing a breathtaking amount of his wealth literally down the drain, with what so far has been a horrible investment (the actual team itself).

 

[C-NICE]

I think what people are failing to realize here is that he's paying 90m strictly on the punitive tax imposed by the league. That doesnt include the actual salaries for the players, which I believe is in excess of 100m, or at least close to it. It total, Prok is paying close to 200m for a going nowhere team, and when it comes to wealth and revenue the nets arent even approaching other far more valuable franchises. In addition, other organizations are spending a fraction of that amount with much better results. I dont care how much Prok is worth, he's throwing a breathtaking amount of his wealth literally down the drain, with what so far has been a horrible investment (the actual team itself).

breh with the sale of the clippers and the new tv contract he will be more than fine not to count his pockets but he aint losing money breh

 

[Danie84]

What’s 900 million to a muhfukka like Prokhorov, can you please remind me

 

[Type Username Here]

not that other countries are much different, but there must be some crazy fukkin stories/deals behind some of those dudes wealth

Nah breh, that situation was pretty unique. There was an instant power vaccum and scramble to take hold of everything.

It honestly wouldn't surprise me if Prokhorov killed a few people or put hits out on people. shyt went down like that when the Soviet Union fell.

 

[TR7]

I think what people are failing to realize here is that he's paying 90m strictly on the punitive tax imposed by the league. That doesnt include the actual salaries for the players, which I believe is in excess of 100m, or at least close to it. It total, Prok is paying close to 200m for a going nowhere team, and when it comes to wealth and revenue the nets arent even approaching other far more valuable franchises. In addition, other organizations are spending a fraction of that amount with much better results. I dont care how much Prok is worth, he's throwing a breathtaking amount of his wealth literally down the drain, with what so far has been a horrible investment (the actual team itself).

That's not true

http://www.thepostgame.com/blog/dish/201405/nets-revenue-has-exploded-franchise-moved-brooklyn

David Stern was right.

In September 2012, before the Brooklyn Nets opened their inaugural season in the borough, the then-NBA commissioner said he believed the franchise could be a top-5 revenue team in the league. A bold prediction for a squad that was coming off a year in which it finished 27th in the league in ticket revenue.

But, lo and behold, the Nets appear to be validating Stern's words. Not only have they soared to fifth in the league in ticket sales, they are also the fifth most valuable NBA franchise on Forbes' list. That's a nine-spot jump in the span of two years.

According to ESPN's Darren Rovell, the team will finish seventh in merchandise sales this year, up from 30th in 2011-12.

We may not be close to winning a title, but this is a top revenue team now in terms of ticket sales, merch sales, and the arena money Prok is getting from all those concerts

 

[He Who Posts Well]

The Nets are a tax write off for ole Proky. Y'all aren't seeing the big picture.

 

[Amare's Right Hook]

The Nets are a tax write off for ole Proky. Y'all aren't seeing the big picture.

Please explain, Wolf of Wall St.

 

[I.V.]

how about we post some links or that doesn't apply anymore

No link. Nets Daily has been covering them tripping over the luxury tax. The team isn't looking to publicize the fact that its own didn't know they were breaking the extra tax thresholds, not a good look.

Just what I heard from a friend working over there.

 

[☑︎#VoteDemocrat]

Can someone explain this stuff in layman's terms?

 

[Da_Eggman]

Can someone explain this stuff in layman's terms?

I think it's like 2 times every million over the cap the nets are

Than there is another tax for repeated offenders that makes it even larger

If there like 5 mill over the cap they pay 10

That it's like 5 mill = 25 mill

The numbers might not be correct but just showing how it works somewhat

 

[DaddyTime]

Watch the sixers rise from the ashes in a couple years while the Nets slide into Bolivian


Is nice to see billy crippling other teams like he did us with that Kenny Thomas contract style

Feels like we're still paying Matt Geiger

Worse GM in the league

Oblivion breh? Really

 

[HiphopRelated]

Oblivion breh? Really

Iron Mike reference

 

[DaddyTime]

Iron Mike reference