NBA: 5 Teams That Are In Serious Financial Trouble

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4. Boston Celtics

May 3, 2013; Boston, MA, USA; Boston Celtics forward/center Kevin Garnett (5) taps the head of guard Jason Terry (4) after leaving the game during the fourth quarter in game six of the first round of the 2013 NBA Playoffs against the New York Knicks at TD Garden. The New York Knicks won 88-80. Mandatory Credit: Greg M. Cooper-USA TODAY Sports

A mass migration of players (and head coach) to the Los Angeles Clippers notwithstanding, the Boston Celtics face some serious financial issues next season.

The Celtics paid a little bit more than $1 million in luxury tax fees for the 2012-13 season. With incremental rates, they would have paid close to $2.5 million. That number seems low compared to some of the other teams, but it only tells a small part of the larger story.

Boston was barely over the line for the 2012-13 season, with just $72 million on the books. But come 2013-14, they will be paying nearly $4 million more. The Celtics owe $76 million for the 2013-14 season and will reach another level of the incremental rates.

Boston ranks seventh in the league in terms of the top television markets, and they rank fourth in the most valuable franchises.So they could probably afford the tax, but like all things that aren’t taken care of, they will become worse with time. Look for some major moves for the Celtics on the horizon.

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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.