Lakers most profitable NBA franchise, despite miserable season
The Lakers are coming off their worst season since moving to Los Angeles, winning only 27 games while All-Star guard Kobe Bryant sat out all but six with multiple injuries.
Despite a miserable campaign, the Lakers were the most profitable franchise in the NBA -- by a large margin.
According to a memo distributed to teams by the NBA, the Lakers project to earn a $158.3-million profit for the 2013-14 season, before tax and revenue sharing.
The Chicago Bulls, second on the list, earned less than half that amount, at $75.7 million. The Clippers were seventh at $30.4 million. The Brooklyn Nets were the least profitable with a loss of $51.5 million, before tax/revenue sharing.
The Lakers will also pay $8.7 million in luxury taxes and contribute $49.6 million into NBA’s revenue sharing, reducing their profits to $100.1 million -- which is still $38.5 million ahead of the Bulls’ net of $61.6 million.
The Nets will pay a $90.1-million tax bill, along with $2.7 million in revenue sharing, resulting in a massive $144.3-million loss.
The New York Knicks will pay $34.8 million in taxes and $26.7 million in revenue sharing, dropping their $58.1-million profit to $3.4 million in losses.
The Clippers, first-time taxpayers, gave up $1.4 million in taxes and $7.2 million in revenue sharing, netting $21.7 million.
The Memphis Grizzlies will receive a league-high $23.1 million in revenue sharing, followed by the Charlotte Hornets (formerly the Bobcats) at $22 million.
Twenty-one teams project to finish with a positive cash flow, up from 17 before taxes and revenue sharing.
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