Monday, November 19, 2007
In the wake of this Marbury-Thomas fiasco...how much are the Knicks actually spending?
A lot has been made of the Stephon Marbury-Isiah Thomas soap opera. But how much are the Knicks actually shelling out for their multi-million dollar roster that has yet to pay dividends in the playoffs (and the regular season for that matter!).
Daily News Columnist Mitch Lawrence wrote:
"The Knicks are on the books this season for a league-leading $95.294 million in players' salaries. But because of the Jerome Williams' amnesty buyout, and for the purpose of the NBA luxury tax calculation, their actual number is $87.655 million, according to official figures obtained from a rival Eastern Conference GM. With the tax threshold set at $67.9 million, and every team exceeding that figure required to pay dollar for dollar over that amount, the Knicks are shelling out an additional $20 million in taxes. That means the roster is costing Jim Dolan almost $108 million. That's $52 million over the league's cap, but who's counting? Bottom line: Fiscal mismanagement still reigns supreme at Two Penn Plaza."
At the end of the day, it will be the New York fans who will pay for Jim Dolan's and Isiah Thomas' frivolous, unconscious, and remorseless financial escapades...
I can't wait to see the Knicks ten years from now...
One can only hope that it doesn't get any worse...
Now playing: Jackson 5 - One More Chance