Knicks Owe $45 MIL In Luxury Tax

[noballer08]

http://sports.espn.go.com/nba/news/story?id=2935728That's ridiculous. The next team that owes a luxury tax is the Mavs, only $7 million...

 

[MaRdYC26]

I'm confused.What is luxury tax?

 

[knicksfan3]

Luxury tax is what you pay when you're over the salary cap, pretty much a penalty for over paying players. The Knicks had a payroll higher than $65.42 million (Cap #) for the 2006-07 season so they have to pay for it. Since the payroll was around 110 mil last year, we have to pay 45 mil, which is just great. At least this season we are cutting that number nearly in half.

 

[MaRdYC26]

ROFL, we'll never be under the cap.

 

[BrewCityBuck]

What a pathetic/short sighted franchise. If I grew up in NY, I honestly don't think I could root that for that team.

 

[MaRdYC26]

<div class='quotetop'>QUOTE (BrewCityBuck @ Jul 15 2007, 03:35 PM) <{POST_SNAPBACK}></div><div class='quotemain'>What a pathetic/short sighted franchise. If I grew up in NY, I honestly don't think I could root that for that team.</div>They aren't as pathetic as the Bucks. At least the Knicks have a rich history...

 

[mAAAbs]

When we (and all the other teams) pay our luxery tax about 1.9 million goes to each other team in the league. We are paying other teams.But hey, 45 million? Thats pocket change for Dolan.

 

[Roaming]

Really? So we can possibly sign and trade Joey Graham with that luxury tax youre giving us basically?

 

[noballer08]

<div class='quotetop'>QUOTE (RaptorFan#1 @ Jul 16 2007, 09:50 PM) <{POST_SNAPBACK}></div><div class='quotemain'>Really? So we can possibly sign and trade Joey Graham with that luxury tax youre giving us basically?</div>I think so; I believe that 1.9 is towards salary cap space for other teams.

 

[junot111]

isiah is a window shopper

 

[MaRdYC26]

<div class='quotetop'>QUOTE (junot111 @ Jul 16 2007, 11:15 PM) <{POST_SNAPBACK}></div><div class='quotemain'>isiah is a window shopper</div>Good insight.

 

[Roaming]

<div class='quotetop'>QUOTE (noballer07 @ Jul 16 2007, 11:13 PM) <{POST_SNAPBACK}></div><div class='quotemain'>I think so; I believe that 1.9 is towards salary cap space for other teams.</div>Thats great man. Ship Joey's ass out of here.

 

[junot111]

joeys not that bad.ship garbageman outa here

 

[Strike3]

<div class='quotetop'>QUOTE (BrewCityBuck @ Jul 15 2007, 03:35 PM) <{POST_SNAPBACK}></div><div class='quotemain'>What a pathetic/short sighted franchise. If I grew up in NY, I honestly don't think I could root that for that team.</div>I grew up in NY and im not a Knicks fan and m proud of it.

 

[PinoyDynasty]

I wish Isiah Thomas will just leave. He's was a great basketball player but as a GM he's terrible. But anyway...hopefully the Knicks will make the playoffs this year.