The Knicks had the fourth-largest luxury-tax bill last season, paying out $9.96 million, according to ESPN.com's Marc Stein.
The Lakers paid the most in taxes ($29.25 million), while the Heat were second ($13.34 million), the Nets were third ($12.88 million) and the Bulls were fifth ($3.93 million).
The NBA announced Tuesday night that the 2013-14 salary cap has been set at $58.679 million and the tax level has been set at $71.748 million. The contracts alone for Carmelo Anthony, Amar'e Stoudemire, Tyson Chandler and Andrea Bargnani (who could become an official Knick on Wednesday when the NBA's moratorium periods) equal about $70 million for next season.
While the Knicks are paying a pretty penny now in luxury tax bills, the addition of Bargnani (via a trade with the Raptors) gives the team four expiring contracts in 2014-15 that could be attractive to teams under the salary cap.
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