Despite Saving $110,000,000, $103.3 Billion-Rich NBA Owner to Pay $100M+ Under New League Rules

The NBA is all about playing basketball and doing the hoops, but there is one other aspect to this sport, one that any multi-billion-dollar endeavor would have – money. And when there’s money in the picture, there’s taxes. The concepts of money and taxes related to the NBA have been talking points for several years now. And one concept that’s always up for discussion is the Luxury Tax.

There are several terms out in the field for this tax, some regard it as the Jock Tax, yet others regard it as the Jordan Tax. It’s simple actually. Back when Michael Jordan was playing all over the country and the states, the states deducted tax from him. Soon, this became a trend all over the country. Jordan’s retired, but like how he is still connected with the game, the tax also exists.

The new Luxury Tax system will still cost the Clippers

Now, one NBA team made headlines because it saved a whopping $100 million in the luxury tax with just one simple step, according to Sports Illustrated. It didn’t guarantee their NBA player’s contract. That team is the LA Clippers, and the player is Eric Gordon.

Even so, it now looks like the billionaire owner of the team will still be wedging out a considerable amount in taxes, and that’s because of a new tax apron that’s coming up this season. With the new round of taxes, teams that are paying for the top contenders in the game will have to foot another layer of tax, so that they can get the team that they want.

Read More: Forced To Decline a Hefty Sum, LA Clippers Could Save Over $100,000,000 With Latest Move

The Clippers should be willing to a number north of $100 million in taxes if they are looking to stay in the game and create teams that they would want.

NBA players are famous for the taxes they pay

Money is an important factor in the NBA. The team management has to decide which particular talent they can get to perfect their roster, depending on their finances and the taxes that they are paying off. What do you think about teams putting money before their teams? Tell us in the comments!

Watch This Story: ?Barter With Your Soul? – Refusing to Diminish Self-Worth, Dwyane Wade?s Wife Gabrielle Utters Strong Creed