It remains to be seen how much history will be made on the court by the Nets’ Big Three of James Harden, Kevin Durant and Kyrie Irving, but so far they have already made history in a way by becoming the highest-paid trio ever in the NBA with combined salaries of $114.8 million this year. That puts Harden-Durant-Irving almost $7 million ahead of Stephen Curry, Klay Thompson and Andrew Wiggins, which was the No. 1 all-time before the Harden four-way blockbuster trade. For the record, Brooklyn is slated to pay its Big Three $120.3 million next season and $126.8 million in 2022-23 if all of them opt in.
Bobby Marks: Financial/team info on the Jusuf Nurkic injury 💰$1.25M bonus for games played (62) and wins (44) As of today: 12 GP and 7 W with 60 games remaining 🏀Portland does have an open roster spot and Two Way 💰$1.87M below the luxury tax 🏀No deadline to sign a Two Way (was 1/15)
Harden also leaves Texas, one of nine states without an income tax on wages, for New York, one of the nation’s highest taxing states. While Harden will continue to be owed the same amount of money over the next three years, his pay will be subject to an approximately 12.7% tax rate between New York State and New York City. In November, we ran the numbers on a Harden trade to the Nets. The short of it: He’ll pay an additional $13.6 million in taxes over the next three years. The following chart, which incorporates jock taxes and assumes that Harden will be a resident of New York City, breaks down the numbers:
Bobby Marks: Brooklyn will catch a big break re: luxury tax In a normal season, the Nets tax bill would have increased from $57.5M to $87.1M (+29.6M). Because of the projected decline in revenue, the Nets were projected to have a $30.2M tax penalty. That number is now $45.6M (+15.4M)
Bobby Marks: With the trade, Houston will go under the luxury tax by $3.65M and hard cap by $9.95M. Before the deal is consummated, Houston will need to waive a player (had 14 on the roster before the deal and now sending out 1 and taking back 3).