Warriors owner Joe Lacob was fined $500,000 on Wednesday after making comments criticizing the NBA’s current luxury tax system. (Thearon W Henderson/Getty Images)
According to ESPN’s Adrian Wojnarowski, the NBA on Wednesday fined Golden State Warriors owner Joe Lacob $500,000 for making comments critical of the league’s current luxury tax system.
Lacob said in a recent episode of the podcast Point Forward that the luxury tax is part of a “very unfair system”.
Lacob was fined because the NBA does not allow team owners or officials to discuss “unauthorized communications about collective bargaining.”
The Warriors paid an NBA-record more than $170 million in luxury taxes and $346 million in total payrolls last season, causing a stir in the league, especially after winning their fourth NBA title in eight seasons had.
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Lacob told Point Forward co-hosts Andre Iguodala and Evan Turner that this system was unfair and punished them.
“Unfortunately, the hardest part of all is managing this luxury tax,” he said of NBC Sports. “I returned to New York this week for work meetings. I’m on the committee. And you know, of course, that the league wants everyone to have a chance, and right now there’s a certain element out there that thinks we’re “check book win,” we won because we have the most salaries on our team .
“The truth is we only pay $40 million more than the luxury tax. Well, that’s not small, but it’s not a huge number. We have a total of $200 million too much because most of it is this incredible luxury tax. And what I think is unfair and I’m going to say it on this podcast and I hope it comes back to whoever is listening… and of course it’s selfish of me to say that but I think it’s a very unfair system, because our team is built by – all top eight players are all drafted by this team.”
While Wiggins wasn’t drafted, Lacob says his team was essentially built from the ground up.
“If you develop your own guys and you pay Steph Curry what he makes and Klay Thompson what he makes, why am I paying $200 million in luxury taxes? I don’t think it’s fair,” he said.
The story goes on
The NBA increased its salary cap by more than $10 million to $123.655 million for next season. The Warriors paid nearly $176 million in salaries last season, which was more than $39 million over the salary cap.
The Warriors’ hefty bill isn’t going away. Next season, according to ESPN’s Bobby Marksthey could pay anywhere from $181 million to $200 million.