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Brooklyns Insane Financial Loss

1

According to Zach Lowe of Grantland, the Nets lost $144 million in 2013-14 -- $131 million more than the next team, the Washington Wizards. So, just how did the Nets lose 11 times as much money as the next team? The majority of that $144 million comes from the team's luxury tax payments for its extravagant payroll. The additions of Kevin Garnett, Jason Terry and Paul Pierce bumped the Nets' payroll to more than $100 million. That was the highest ever by an NBA team and it triggered a $90 million luxury tax. The previous high for an NBA team's luxury tax was the $51.97 million paid by Portland Trail Blazers owner Paul Allen in 2002-03.

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