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Tuesday, August 21, 2012
Nets to pay at least $11.49M in luxury taxes

By Mike Mazzeo

With 13 players under contract for next season, the Nets, who have a payroll of $81.8 million, will be on the hook for at least $11.495 million in luxury taxes, league sources confirmed to ESPNNewYork.com. This season’s luxury tax threshold is a little more than $70.3 million, and teams pay $1 for every dollar they’re over. Remember, the Nets may end up exceeding these numbers because they still have two roster spots available if they choose to use them.

Basketball-reference.com has a detailed look at the Nets’ 2012-13 commitments:

Joe Johnson: $19,752,645
Deron Williams: $17,177,795
Brook Lopez: $13,668,750
Kris Humphries: $12,000,000
Gerald Wallace: $9,682,435
Mirza Teletovic: $3,090,000
Reggie Evans: $1,622,617
Jerry Stackhouse: $1,352,181
Keith Bogans: $1,229,255
MarShon Brooks: $1,160,040
C.J. Watson: $992,680
Tyshawn Taylor: $473,604
Tornike Shengelia: $473,604

Total: $81,802,948

According to ESPN affiliate Hoopdata, the Nets have not paid the luxury tax since 2003-04 ($9,390,383). In 2002-03, the season in which they advanced to their second straight NBA Finals, the Nets paid $5.73 million in luxury taxes.