$92,454,198 Paid in Luxury Tax

[Sun Scorched]

I know this probably isn't as bad as it has been in past years or will be in future years...

...but Good God that is a lot of money.

The Knicks were the leaders among eight teams that were notified Wednesday morning that they will have to pay luxury tax, according to ESPN.com.

Teams with a payroll above $67.865 million last season are required to pay one tax dollar for every dollar they sit over the threshold. That means the Knicks will have to pay roughly $20 million in tax.

The seven other teams that will be required to pay the tax penalty are the Mavericks, Cavaliers, Nuggets, Heat, Celtics, Lakers and Suns.

Teams must make their payments in full by July 23.

Each of the teams that don't owe any tax will each receive 1/30th of the $92,454,198 total tax pot. That computes to $3,081,807 per franchise.

I know, I know. The bolded word doesn't mean too much to some of you, but sometimes I can forget as well.

[walkingart]

God damn Sarver, what a cheap f***ing bastard!

[psyclone1982]

It does put things into perspective when you realize there are 22 other owners tighter than Sarver :S

(As far as salary goes anyway, I don't remmember any of the 7 above us selling draft picks anyway, maybe nuggets)

[walkingart]

Based off of revenue and debt/fanchise, the Suns spend a lot of money(only being rivaled by the Celtics).

The teams with tight wad owners based off of the numbers would be Detroit and Chicago. Both have extremely high revenues and no debt or close to no debt.

[Sun Scorched]

Sarver runs the team like a business. Straight and simple. As fans, this sucks sometimes.

Okay, it seems to suck more often than not.

That being said, Sarver has put together a pretty nice team. He spends money when it counts a la Nash. When the time comes, I fully believe he will spend money on Stoudemire....

...I say this because if he doesn't, I am going to burn down the US Airways Center and piss on the ashes.