Sources: Cavaliers Owe League $54 Million in Luxury Taxes

Basketball Insiders profile picture
Updated 1 year ago on

1 min read

We sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.

The Cleveland Cavaliers learned of the luxury tax bill for their championship season on Saturday, when the NBA announced the salary cap for next season, league sources say, ‎with owner Dan Gilbert soon required to send in a check for $54 million.

Sources told ESPN.com that the league’s annual audit — which established a $94.1 million salary cap for the 2016-17 campaign — also officially confirmed that seven teams, led by far by Cleveland, strayed beyond the $84.7 million tax threshold for the 2015-16 season.

Source: Marc Stein of ESPN

Join our Telegram channel for our exclusive free betting tips, picks and offers.

The next evolution of basketball news, information and rumors.

Trending Now