NBA fines Warriors co-owner Joe Lacob $500,000 after calling luxury tax system ‘unfair’

Owner Joe Lacob of the Golden State Warriors

Warriors owner Joe Lacob was fined $500,000 on Wednesday after making comments criticizing the NBA’s current luxury tax system. (Thearon W. Henderson/Getty Images)

The NBA on Wednesday fined Golden State Warriors owner Joe Lacob $500,000 for comments he made against the league’s current luxury tax system, according to ESPN’s Adrian Wojnarowski.

Lacob said on a recent episode of the “Point Forward” podcast that the luxury tax is part of a “very unfair system.”

Lacob was fined because the NBA does not allow team owners or officials to discuss “unauthorized communications regarding collective bargaining.”

The Warriors paid an NBA-record over $170 million in luxury tax and $346 million in total payroll last season, which turned heads in the league, especially after winning their fourth NBA title. in eight seasons.

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Lacob told “Point Forward” co-hosts Andre Iguodala and Evan Turner that this system is unfair and punishes them.

“The hardest part of all is dealing with this luxury tax, unfortunately,” he said via NBC Sports. “I returned to New York this week for union meetings. I’m on the committee. And you know obviously the league wants everybody to have a chance and right now there’s a certain element there that believes we’re ‘winning on the checkbook’ we won because we have the most salaries in 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 huge number. We’re over $200 million in total because most of that is due to this incredible criminal luxury tax. And what I consider to be unfair and I’m going to say it on this podcast and hopefully it comes down to whoever is listening… and obviously it’s selfish for me to say this but I think it’s a very unfair system because our team is built by – the top eight players are all drafted by this team.

Although Wiggins was not drafted, Lacob says his team was basically developed from scratch.

“If you develop your own guys and pay Steph Curry what he deserves and Klay Thompson what he earned, why am I paying $200 million in luxury tax? I don’t think that’s fair,” he said.

The NBA has raised its salary cap by more than $10 million for next season to $123.655 million. The Warriors paid nearly $176 million in salaries last season, more than $39 million over the salary cap.

The Warriors’ high bill isn’t going away. next season, according to ESPN’s Bobby Marksthey could pay between $181 million and $200 million.

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