With the salary cap set for the new league year, the NBA has finalized its luxury-tax calculations for the 2015/16 season, and the champion Cavaliers will be on the hook for a hefty bill. According to ESPN’s Marc Stein, owner Dan Gilbert and the Cavs, having spent well beyond the luxury-tax threshold last season, owe a tax payment of $54MM.
Here’s the complete list of taxpaying teams for the 2015/16 season, per Stein:
- Cleveland Cavaliers: $54MM
- Los Angeles Clippers: $19.9MM
- Golden State Warriors: $14.8MM
- Oklahoma City Thunder $14.5MM
- Houston Rockets: $4.9MM
- San Antonio Spurs: $4.9MM
- Chicago Bulls: $4.2MM
The tax payments owed by those seven teams total nearly $120MM, and according to Stein, half of that money will be used to fund the NBA’s revenue-sharing program. The other half will be split up equally among the league’s 23 non-taxpaying teams, with each franchise receiving about $2.5MM.
On the other end of the spectrum, the Trail Blazers and Magic were the only teams to fall short of the $63MM floor, per Eric Pincus of Basketball Insiders (Twitter link). They’ll have to make up the difference by cutting checks to the players who finished the season on their respective rosters.