Report: Nets Lost $144 Million, Celtics Made $33.1 Million Read more at: http://nesn.com/2014/06/report-brooklyn-nets-projected-to-net-loss-of-144-million-in-2013-14/

by Andre Khatchaturian

These are some dark days for the Brooklyn Nets. Not only are they without a head coach after the drama surrounding Jason Kidd, but Grantland reports that they are projected to lose $144 million in 2013-14. This figure is from a confidential memo released by the NBA to all teams in early June. The Nets lost more money this year than any other team. Second on the list are the Washington Wizards, who lost $13 million. That’s right.

The Nets lost $131 million more than any other team. Ouch! There are several reasons for these shocking figures. One is the exorbitant luxury tax bill that the Nets paid for signing a bunch of over-the-hill players. The Nets also don’t get any money from revenue sharing because of the market they play in. While the Nets were deep in the red, the Los Angeles Lakers ($100.1 million) led the way in terms of profitability.

The Boston Celtics, meanwhile, made the fifth-most money at $33.1 million.

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No wonder Prokhorov is looking to cut expenses.

How do you say "fire sale" in Russian?


bob


.

I think Prolhorov needs the English definition of salary cap and luxury tax. I'm pretty sure no one has told him those two definitions and that they exist in the NBA. That should get him back to square.

db

On the other hand, congrats to the Celtics for making that much in a losing season! That's the way to stay in business for a long time.

db

огонь продажи

Remember, we own the Nets two unrestricted draft picks. That's a big deal when the Nets owner lets the team tank.

That's going to be a big dilemma for them. There's no point for them to tank in the normal sense, as they won't benefit in the draft. In order to keep people watching, they need to field a competitive team while getting their costs down. Not going to be easy.

-V

The Nets won't tank to improve draft position; they'll be effectively tanking to drop players to get under the cap. The Russian owner has no incentive to pay luxury taxes now that he has little chance of beating the Heat.

There's no way that Brooklyn is going to tank anytime soon.
They have no chance of getting under the salary cap until the 2016-17 season.
They might not go hog wild in spending but they should continue to field a competitive team.

$141 million is even more than I made all last year.  But they had a minus sign in front of theirs, and I didn't.

Sam

No way Brooklyn tanks? How can they be winners with their 2014-15 roster and the $64M they owe for just 3 players for 2016-7, the year one of our #1 picks from them kicks in. 2015-16 they're pretty rough too.



Player

Cap Hit

2013-14

2014-15

2015-16

2016-17

2017-18

Signed Using

Guaranteed

Player cap hit 2013-14 2014-15 2015-16 2016-17 signed using
Joe Johnson* $21,466,718 $21,466,718 $23,180,790 $24,894,000, Bird Rights $69,542,371
Deron Williams* $18,466,130 $18,466,130 $19,754,465 $21,042,800 $22,331,135  Bird Rights $81,594,530
Paul Pierce* $15,333,334 $15,333,334     Bird Rights
Brook Lopez* $14,693,906 $14,693,906 $15,719,063 $16,744,219   Bird Rights $30,412,969
Kevin Garnett* $12,443,735 $12,443,735 $12,000,000     Bird Rights $24,443,735
Marcus Thornton*$8,050,000 $8,050,000 $8,575,000     Cap Space $16,625,000
Mirza Teletovic* $3,229,050 $3,229,050 $3,368,100     Mini MLE $6,597,150
Andrei Kirilenko* $3,183,000 $3,183,000 $3,326,235    Mini MLE $3,183,000
Andray Blatche* $1,375,604 $1,375,604 $1,437,506     Non Bird Rights $1,375,604
Mason Plumlee* $1,298,000 $1,298,640 $1,357,080 $1,415,520 $2,328,530  1st Round Picke $2,655,720
Alan Anderson* $947,907 $947,907 $1,063,384     Minimum Salary $947,907
Shaun Livingston* $884,293 $1,272,279     Minimum Salary $884,293
Jason Collins* $171,657 $271,669     Minimum Salary $171,657
Jorge Gutierrez $57,668 $57,668 $816,482     Minimum Salary $57,668
Jason Collins $52,017 $82,324      $52,017
Jason Collins $52,017 $82,324      $52,017
(Jorge Gutierrez) $28,834 $28,834      $28,834
(Jorge Gutierrez) $28,834 $28,834      $28,834
Jerry Stackhouse $884,293        

Team Totals $102,647,637 $102,311,956 $90,598,105 $64,097,402 $24,659,665   $253,986,640

Payroll Notes

Poorly managed team. This should be a reminder that you can't just throw money in the dirt and expect something to grow.

Tanking wouldn't be good because they probably don't have enough of a loyal fanbase to endure that kind of season(s).


KJ

worcester wrote:No way Brooklyn tanks? How can they be winners with their 2014-15 roster and the $64M they owe for just 3 players for 2016-7, the year one of our #1 picks from them kicks in. 2015-16 they're pretty rough too.



Player

Cap Hit

2013-14

2014-15

2015-16

2016-17

2017-18

Signed Using

Guaranteed

Player     cap hit 2013-14          2014-15           2015-16        2016-17   signed using
Joe Johnson*     $21,466,718    $21,466,718    $23,180,790   $24,894,000,        Bird Rights $69,542,371
Deron Williams* $18,466,130    $18,466,130    $19,754,465   $21,042,800 $22,331,135  Bird Rights $81,594,530
Paul Pierce*       $15,333,334    $15,333,334                                              Bird Rights
Brook Lopez*     $14,693,906    $14,693,906    $15,719,063   $16,744,219   Bird Rights $30,412,969
Kevin Garnett*   $12,443,735    $12,443,735    $12,000,000                        Bird Rights $24,443,735
Marcus Thornton*$8,050,000     $8,050,000     $8,575,000                         Cap Space $16,625,000
Mirza Teletovic*  $3,229,050      $3,229,050     $3,368,100                        Mini MLE $6,597,150
Andrei Kirilenko* $3,183,000     $3,183,000      $3,326,235                       Mini MLE $3,183,000
Andray Blatche*  $1,375,604     $1,375,604      $1,437,506                         Non Bird Rights $1,375,604
Mason Plumlee*  $1,298,000     $1,298,640      $1,357,080     $1,415,520   $2,328,530  1st Round Picke $2,655,720
Alan Anderson* $947,907         $947,907         $1,063,384                         Minimum Salary $947,907
Shaun Livingston* $884,293       $1,272,279                                               Minimum Salary $884,293
Jason Collins*    $171,657            $271,669                                                 Minimum Salary $171,657
Jorge Gutierrez   $57,668            $57,668            $816,482                              Minimum Salary $57,668
Jason Collins      $52,017              $82,324      $52,017
Jason Collins      $52,017              $82,324      $52,017
(Jorge Gutierrez) $28,834             $28,834      $28,834
(Jorge Gutierrez) $28,834              $28,834      $28,834
Jerry Stackhouse $884,293        

Team Totals      $102,647,637 $102,311,956   $90,598,105    $64,097,402   $24,659,665   $253,986,640

Payroll Notes

I guess we view tanking differently.
I think of it as being intentional.

Prokhorov is concerned about the value of the team.
He will boost it up with cash and try to get LA Clippers money for it.