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Nets Lose $114 Million in 2013-14

Basketball Insiders

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The basketball side of the Nets’ business is projected to have lost $144 million over the 2013-14 season, according to a confidential memo the league sent to all 30 teams in early June. (Grantland has reviewed and verified the memo with a half dozen sources.) If that strikes you as out of whack, that’s because it is. The NBA expects nine teams will end up having lost money once luxury-tax distribution and revenue-sharing payments are finalized. The Nets, with that monster $144 million figure, are the biggest losers. Next in line? The Wizards, with projected losses of about $13 million. That’s right: The Nets lost $131 million more than any other NBA team last season.

via Zach Lowe of Grantland

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Report: Jimmy Butler Asks For A Trade

According to Shams Charania, Wolves forward Jimmy Butler has asked to be traded.

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Jimmy Butler has requested a trade from the Minnesota Timberwolves, league sources tell me and @JonKrawczynski. Butler has given Minnesota a list of one-to-three teams with whom he’s open to signing extension, in anticipation of trade.

Source: Shams Charania, via Twitter

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Sources: 76ers Promote Elton Brand to General Manager

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Philadelphia has hired Elton Brand as general manager, league sources tell ESPN. Brand will be elevated from VP of Basketball Operations. He made strong impression on ownership and Brett Brown in process, beating out several inside and outside candidates.

Source: Adrian Wojnarowski on Twitter

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Sources: NBA Updates Salary Cap Projections for Future Seasons

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Sources: The NBA has informed its teams of updated projected salary cap and tax level for 2019-20 ($109M, $132M) and 2020-21 ($118M, $143M).

Sources: Shams Charania on Twitter

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