NBA Rumors: Brooklyn Nets willing to spend more than $100 million in luxury tax upcoming offseason
The Brooklyn Nets have gone through several roster transformations in recent years. They may overhaul it again this summer.
According to Kristian Winfield, the Nets are willing to spend more than $100 million in luxury tax to create a championship-caliber roster this offseason.
Sean Marks said Joe Tsai was willing to spend over $100M in luxury tax this season.
What can the Nets do this summer?
The Nets have a payroll of $158,370,057. They will pay $12.9 million in luxury tax for being $8.1 million over the salary cap. The Nets severely cut down their bill by trading away Kevin Durant and Kyrie Irving prior to the trade deadline.
Brooklyn dealt Durant to the Phoenix Suns for Mikal Bridges, Cameron Johnson, four first-round picks, a first-round pick swap and two second-round picks. They also traded Irving to the Dallas Mavericks for Spencer Dinwiddie, Dorian Finney-Smith, a first-round pick and two second-round picks.
Before the trades, the Nets had a payroll of $181.4 million and a luxury tax bill of $90.6 million.
With their current roster, the Nets would have the 13th highest payroll in the league heading into next season. They will also have approximately $15.5 million in cap space. This sets them up to make significant moves in free agency and through the trade market.
Nets owner Joseph Tsai has not been shy about spending since acquiring the team. He previously signed off on deals to acquire Durant, Irving, and James Harden.
The Golden State Warriors won a championship last year with the highest luxury tax bill in the league. They have the highest projected tax bill going into next season ($242.7 million). Golden State has a projected payroll of $211.6 million.
The Nets will have even more flexibility to acquire superstar talent if they are able to trade Ben Simmons.
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Simmons is set to earn $37.8 million next season, which would make him the highest paid player on the team. He has not played since February 15 due to lingering knee and back injuries. His health problems are a major reason why the Nets will try to deal him this summer.
The Nets will have to spend more money to keep Cam Johnson, who has been a solid contributor since arriving from Phoenix in the Durant trade. He will be a restricted free agent so the Nets can match any offers Johnson receives from other teams.
The Nets could also go after Damian Lillard if the Trail Blazers make him available. He has the leverage to ask for a trade if the Blazers decide to go through a rebuild.
Brooklyn has a solid core of talented role players to build around. They are all under contract for next season. Bridges, Dinwiddie, Nic Claxton, Finney-Smith, and Royce O’Neale played solid minutes for the Nets during the final stretch of the season.
Fred VanVleet, Khris Middleton, and Jerami Grant headline the free agent class this summer. Irving and Harden will also be free agents but are unlikely targets to return to Brooklyn.