The San Antonio Spurs have been movers and shakers during this offseason in acquiring forwards Richard Jefferson and Antonio McDyess. Well, they are now going to foot the bill in the form of the NBA’s luxury tax, to the tune of 15 million dollars.
The San Antonio Express-News informs us of this huge bill:
The Spurs have been proactive this summer, and along with an improved roster will come a sizable luxury tax bill.
San Antonio is expected to sign Antonio McDyess to a three-year, $15 million deal soon, and they traded for Richard Jefferson, who has $29.2 million left on his contract.
The moves have pushed the Spurs past the NBA’s luxury tax line, and owner Peter Holt could be forced to pay a tax bill of around $15 million. That would be in addition to a payroll that is approaching $80 million.
Well, the one thing that you can say is that the San Antonio Spurs are committed to winning the NBA championship. I usually have an issue paying a dinner check that is upwards of one hundred dollars and the Spurs have to pay a 15 million dollars Luxury Tax because of players they acquired. (You think blogging pays the bills?; alright it does on some bills)
The NBA’s luxury tax is one of the few things that does level the playing field in the NBA and prevents some teams signing big name free agents to long-term deals without some sort of penalty.
All that I am saying, I’m not picking up the bill for the 15 million dollars on the acquisitions of the San Antonio Spurs, the fans are.
(Courtesy of the San Antonio Express-News)