Nets lost between $50 million and $100 million this season

Highest payroll in the NBA this season (in rounded numbers):

1. Warriors: $346 million ($176 million in salary, $170 million in luxuries tax).

2. Mosquito nets: $267 million (169 million in salary, $98 million in luxuries taxes)

Golden State will host its fourth and fifth playoffs in the next few days and is likely to have a deeper playoff. Warriors practically print money in their new arena.

Brooklyn — which swept the playoffs after hosting only two games — doesn’t produce that kind of revenue. Apparently nearby.

Josh Kosman and Brian Lewis from the New York Post:

The Nets and Barclays center lost between $50 million and $100 million combined in the 2021-22 season, giving Tsai perhaps the worst financial loss in the NBA, sources familiar with the situation told The Post.

The $50 million-$100 million range is huge. This alone should raise questions about accuracy.

It should also be the history of NBA teams losing claimants.

The teams mislead and obfuscate the profit. Accounting scams can lead to losses as ordinary people reasonably see the situation as profitable. Tax credits for owners are not generally counted. There are no gains in ratings.

Atmosphere Tsai He bought the Nets for $2.35 billion, starting with a partial stake purchase in 2017 and then full control (and purchase of Brooklyn Square) in 2019. The Nets are now worth $3.2 billion, according to Forbes.

But it’s easy to believe that Brooklyn’s financial picture was less rosy than most NBA teams last season. Player salaries and welfare taxes were just the beginning of the expenses. Kyrie Irving has missed 35 of his 41 home games due to his decision not to vaccinate/New York State. Fighting injury, Kevin Durant missed 10 home games. Ben Simmons was acquired by James Harden, and never played for the Nets. Brooklyn plays the second fiddle in its own market, which is still dominated by the Knicks.

The big question: Will Tsai judge spending next season?

Irving could become a free agent and expect to return, likely with a maximum contract. According to his crazy deal, Simmons is probably not barterable for a reasonable value. Patti Mills can withdraw. Bruce Brown (Untethered), Goran Dragic (Untethered), Andre Drummond (Untethered) and Nicholas Claxton (Restricted) will all be Free Agents in line for increases.

There is plenty of room for cuts in the event of a payroll cut.

And this team really wasn’t good enough.

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