NBA: 5 Teams That Are In Serious Financial Trouble

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2. Miami Heat

Jun 16, 2013; San Antonio, TX, USA; Miami Heat small forward LeBron James (6) reacts during the fourth quarter of game five in the 2013 NBA Finals against the San Antonio Spurs at the AT

 The Heat have a projected payroll of about $86 million in 2013-14, which is the highest figure in the NBA. They paid a little more than $13 million in taxes this past season, and like the Nets, they will be lucky to pay anything that low next year.

While the BRI is projected to go up next season, the projected benefits will also rise. So, even if the luxury level is more favorable next season, the Heat, and other tax paying teams, will have to contend while owing a massive paycheck to the league.

Miami’s tax rates will also increase next year. If they had those same rates last year, they would have owed $24 million, nearly five million more than LeBron James’ annual salary and six million more than Dwyane Wade’s annual salary.

I put the Heat second because frankly, as the team’s general manager, you are getting what you pay for. No one wants to pay a quarter of $24 million in taxes, but at the same time, the Heat have been a constant finals fixture for three years.

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Tags: Boston Celtics Brooklyn Nets Chicago Bulls Golden State Warriors Los Angeles Lakers Miami Heat New York Knicks

  • Jack Hoang

    “Biedrins’ most memorable playoff moment was probably his truly un-matchable ability to get five fouls in just 11 minutes of playtime.” haha good one

  • AJ Reuter

    I did not read past the first team. What a load of shit, I am sorry but is this written by a highschooler? High spending ≠ Financial trouble.

    • Dhara Taheripour

      You are the one of the least profitable teams in the league yet you have one of the highest expenditures. How is that not financial trouble? It’s not just high spending, that’s why I brought in the Forbes valuations as well. Its high-spending combined with the fact that the Nets are not nearly making as much money as the Lakers or Knicks. If you read the rest of the article, you would have seen that. That is why I didn’t mention the Lakers or Knicks having troubles.

      • AJ Reuter

        Its the term ‘financial trouble’

        Financial trouble, for me, is when the team is losing money and not having enough to keep it up. A risk factor related to the teams inability to provide sufficient financial resources to meet minimum needs. A family that cannot afford to feed their kids is having financial trouble. .The nets went through their first year with the new branding, its not like the teams worth is going to skyrocket in the first year (But it actually did). Fact is, they *are* making money. And the teams value is growing exponentially. You don’t just move the team and all of a sudden they are the most marketable team. It takes time.

        Financial trouble is poor wording, in my opinion. There is no trouble.

        • Dhara Taheripour

          I understand what you mean and I appreciate the criticism. You are correct when you say that the Nets aren’t really in “trouble” as long as Prokhorov has money to spend, but then again you could say the same about any NBA team. I only meant “trouble” in the way that they will have to pay luxury taxes. Perhaps it was poor wording because I did not mean to imply financial crisis, just that going into the tax is not something any team wants and that is something the Nets will have to contend with in the coming years. What I should have said was “Unsatisfactory Financial Conditions” or “Undesirable Financial Issues” . Re-branding and profitability aside, the tax issues will only get worse with time as teams will have to pay repeater rates. That’s all I was trying to say.