NBA: 5 Teams That Are In Serious Financial Trouble

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3. Chicago Bulls

May 15, 2013; Miami, FL, USA; Chicago Bulls shooting guard Kirk Hinrich (left) sits next to teammate point guard Derrick Rose (right) during the second half against the Miami Heat in game five of the second round of the 2013 NBA Playoffs at American Airlines Arena. Miami Heat won 94-91. Mandatory Credit: Steve Mitchell-USA TODAY Sports

The Chicago Bulls owe the fourth-most of any team next year and will be paying $17 million to a player whose uniform was a suit for the 2012-13 season. The All-Star and 2010-11 season MVP, Derrick Rose, will return next year, and it could not be at a better time.

The Bulls paid a nearly $4 million fee in 2012-13. Like all of the other teams on this list, once incremental rates come into play, the Bulls will pay more. Assuming there were incremental rates for the 2012-13 season, the Bulls would have owed almost $6 million.

 The Bulls’ financial difficulties are compounded when you consider that they owe about $4 million more next year than they did this year, due mostly to the fact that Taj Gibson’s contract triples in 2013-14, going from $2,155,811 this year to  $7,550,000 for 2013-14. Gibson’s extension adds even more financial pressure to team that already feels the pressure to perform.

However, Chicago’s prime location as a major TV market helps alleviate some of those pressures, as the Bulls management have a little wiggle room when it comes to going over the tax level.

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