Doing the math, that would mean the Nets lost by an amount equal to the luxury tax or roughly $100 million.)Ĭan Tsai afford to lose Irving. (Tsai told NetsDaily that the team would’ve been profitable without the luxury tax payments which he sees as an investment. Meanwhile, the losses for the Nets and Barclays Center have mounted.ĭepending on which spreadsheet you read - or have access to - the two main components of BSE Global, Tsai’s holding company, have lost between $50 and $100 million annually. Part of that has to do with injuries to key players but it also has a lot to do with Irving’s lack of availability. In the three years since the Clean Sweep - the anniversary is next week - the Nets have won exactly one post-game series. One has to spend money to make money, but unlike the Warriors, the Nets have neither made money nor made the Finals. A lot of teams can’t do that, or won’t do that, I guess.” “When you do think you have a chance to go far and compete for a championship, our belief is to do everything we can, to use every last dollar. “We wouldn’t have spent that kind of money on the roster if we didn’t think we had a chance to win,” Warriors governor Joe Lacob said after their NBA Finals after their fourth Larry O’Brien Trophy. Joe Lacob and his partners in San Francisco will pay out $170 million in luxury taxes this year, almost twice the $98 million Tsai will pay (which would be the second highest ever.) The second category is luxury tax payments. Now, of course, that appears to be in jeopardy. But as Forbes has argued that doesn’t happen without winning. Joe Tsai has told Sportico in recent weeks that he wants to get to $500 million annually within three years and $1 billion over seven. This year, they generated an estimated $589 million, 40 percent better the Nets estimate of $343 million. The Warriors also lead the league in two other categories. As Brian Lewis reports Saturday, Golden State averages $4,175,356 per game at the gate, according to internal league figures obtained by The Post, followed by the Lakers at $3 million and the Knicks at $2.9 million. Golden State in San Francisco.Īnd why not? They’ve been to the NBA Finals six times in the last eight years, winning four of them and they generate more revenue on a per game basis than any other team. The first Nets game he attended after buying a minority stake in the Nets three years ago was Brooklyn vs. Joe Tsai’s quandaryįor Joe Tsai, the Warriors have always been the model. So, this week as we await news, we’ll try to look at things from 30,000 feet, both good and day. They retained all their future picks and for the first time in Sean Marks career as GM did not make a trade within 48 hours of the Draft. The Nets did not move up into the Draft although at least one of the four undrafted players they signed, point guard Alondes Williams (A-Will?), could easily have been a late second round pick. The airwaves have been filled with news and punditry about the franchise’s imminent collapse and each day brings more news, most of it bad. The KyrieCrisis is fast replacing the MeloDrama and the Dwightmare in the history of the franchise.
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