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Nets Luxury Tax Bill Is More Than The Raps Payroll!l

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  • Nets Luxury Tax Bill Is More Than The Raps Payroll!l

    http://www.sportsnet.ca/basketball/n...ss-80-million/

    Alan Anderson costing 5 million?! And you guys are complaining about Fields...haha
    If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

    Sometimes, I like to buy a book on CD and listen to it, while reading music.

  • #2
    this is how NBA lockouts happen

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    • #3
      Craiger wrote: View Post
      this is how NBA lockouts happen
      Well, half of tax bill money will go to the other NBA teams. So I have no problem with that!

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      • #4
        By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).

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        • #5
          octothorp wrote: View Post
          By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).
          I want to vomit at the thought
          If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

          Sometimes, I like to buy a book on CD and listen to it, while reading music.

          Comment


          • #6
            Prokhorov will just open up another precious metals mine (probably a shaft will do) in Siberia to pay the taxes. No problem. Some of the funds as well will be set aside in a local bank to compensate the underpaid Kirilenko.

            #farfetchedsarcasm?

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            • #7
              I don't mind this, if someone wants to spend the money to win go for it, it helps all the poor teams.

              I also don't think it's a bad strategy....in fact I think it's Brooklyn's only strategy. You only get one chance at a first impression and if you suck it doesn't matter how hip your logo and jersey are you'll simply be the other NY team.

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              • #8
                Letter N wrote: View Post
                I don't mind this, if someone wants to spend the money to win go for it, it helps all the poor teams.

                I also don't think it's a bad strategy....in fact I think it's Brooklyn's only strategy. You only get one chance at a first impression and if you suck it doesn't matter how hip your logo and jersey are you'll simply be the other NY team.
                Well as a league they are doing pretty much all they can to stop things like that beyond a hardcap. & yeah, a winning or at least contender in the first few years can do tons for establishing a new brand. Look how its worked in a small area like OKC...the NY market is a goldmine.

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                • #9
                  octothorp wrote: View Post
                  By my math, the same payroll would result in 112 million in tax two years from now when the repeater rate kicks in. I know Prokhorov is said to not care about money at all, but it'll be interesting to see if he can stomach $200 million in salary costs if this team turns out not to be a championship contender (which, personally, I don't think they are yet).
                  Prokhorov has a 13 billion dollar net worth. He could give a rats ass about 200 million dollars. He probably makes that much money in a day.

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                  • #10
                    DG88 wrote: View Post
                    Prokhorov has a 13 billion dollar net worth. He could give a rats ass about 200 million dollars. He probably makes that much money in a day.
                    I'm pretty sure Net worth is not the same as spending money. But I've been wrong before

                    Anyone care to confirm?
                    If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

                    Sometimes, I like to buy a book on CD and listen to it, while reading music.

                    Comment


                    • #11
                      LBF wrote: View Post
                      I'm pretty sure Net worth is not the same as spending money. But I've been wrong before

                      Anyone care to confirm?
                      In theory, his net worth is the amount he could have if he cashed out on all his investments right now. Even assuming he takes a 20% or so hit by selling, that leaves over 10 B. At $200,000,000 per year, and assuming only half his expenses are basketball team related, that means in 25 years he runs out of money.

                      But the reality is that he is earning money constantly, even just looking at the basketball side of things, in 2012 the Nets brought in 84 M in revenues versus about 100M in total costs. I imagine that goes up with more success. So the impact is probably halved at the least just through basketball income, let alone his substantial other income. So yes, he'd be pissing away his fortune, but it would be a long trip to the urinal.
                      twitter.com/dhackett1565

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                      • #12
                        "Deel weet eet" - Mikhail Prokhorov

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                        • #13
                          I'd much rather see guys like Prokhorov spending big (albeit recklessly) to try and win a championship over an ownership group like OKC's who appear unwilling to go a cent over their budget even if it costs them a chance to win it all.

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                          • #14
                            I hope this team fails miserably

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                            • #15
                              Billionaires and the toys.

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