Warriors Owner Joe Lacob Fined $500,000 For Criticizing Luxury Tax
As first reported by Adrian Wojnarowski, the NBA has fined Warriors co-owner Joe Lacob $500,000 for criticizing the NBA’s luxury tax rule. The fine is said to be the largest in NBA history.
Lacob had gone onto Andre Iguodala and Evan Turner’s “Point Forward Podcast” when the episode had turned to the NBA’s luxury tax system. Golden State had a total payroll of $346 million last year while paying up $170 million in luxury taxes, an NBA record.
“The hardest thing of all is navigating this luxury tax, unfortunately,” Lacob said. “I went back to New York this week for labor meetings. I’m on the committee. And you know, obviously, the league wants everyone to have a chance, and right now, there’s a certain element out there that believes we “checkbook win,” we won because we have the most salaries on our team.”
“The truth is, we’re only $40 million more than the luxury tax. Now, that’s not small, but it’s not a massive number. We’re $200 million over in total because most of that is this incredible penal luxury tax. And what I consider to be unfair, and I’m going to say it on this podcast, and I hope it gets back to whoever is listening — and obviously, it’s self-serving for me to say this, but I think it’s a very unfair system because our team is built by — all top eight players are all drafted by this team.”
The NBA forbids criticism from team owners and officials regarding League’s collective bargaining agreement with the NBAPA.
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