The NBA's luxury tax increments were raised following the NBA's new collective bargaining agreement in an effort to curb owners from spending too much on their rosters, but the Brooklyn Nets would reportedly end up paying more than $100 million if they are able to trade for Dwight Howard from the Orlando Magic.
Dwight Howard Would Cost The Nets Over $100 Million In Luxury Tax
Larry Coon’s salary cap FAQ breaks down the exact details of what the luxury tax entails, but the end result -- provided the Nets are able to make the move they’ve been angling toward over the past few seasons -- is what really matters: $107.5 million would need to be spent, according to the New York Daily News sources, if the Nets are able to bring Dwight Howard to Brooklyn.
Prokhorov, unlike the vast number of NBA owners, has pooh-poohed the idea of a revamped luxury tax, bankrolling the Nets' uninhibited spending and star chasing this offseason. If the Nets pull off a trade with Orlando for Howard and, assuming they re-sign Howard to a max deal and keep the contracts of Deron Williams, Joe Johnson and Gerald Wallace, Prokhorov will pay a luxury tax of approximately $107.5 million over the next four years, according to a league source.
“Pooh-poohed” and “$107.5 million” should probably never be involved in the same paragraph, but Prokhorov is one of the few that can pull it off. And how!
For more on the Dwight Howard saga, stay tuned to SB Nation’s NBA hub, and check out the Magic blog Orlando Pinstriped Post. For more on the Nets, visit Nets Daily and SB Nation New York.
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