‘That’s petty cash for him’ – Fans react after Warriors owner Joe Lacob receives a $500K penalty for criticizing NBA luxury tax structure

According to Adrian Wojnarowski of ESPN, the NBA fined Golden State Warriors owner Joe Lacob $500,000 on Wednesday for remarks he made criticizing the league’s existing luxury tax structure.

The luxury tax is a component of a “very unjust system,” according to Lacob, who stated this on a recent episode of the “Point Forward” podcast.

The NBA penalized Lacob for discussing “unauthorized contacts involving collective bargaining” because it forbids club owners or officials from doing so.

Last season, the Warriors set an NBA record by paying a luxury tax of more than $170 million and a total payroll of $346 million. This made headlines around the league, especially after they won their fourth NBA championship in eight years.

“Sadly, managing this luxury tax is the most difficult task. This week, I returned to New York for labor meetings. I am a committee member. Of course, the league wants everyone to have a chance, but at the moment, a group of people think that because our team has the highest payroll, we “chequebook win” and thus prevail.” he said.

“We barely exceed the luxury tax by $40 million. That’s not a small amount, but it’s also not huge. Since this enormous punitive luxury tax accounts for most of the $200 million excess, we have overspent. And I’m going to say something that I think is unjust on this podcast in the hopes that it reaches the listeners… It’s probably my self-serving to say this, but I believe the system is highly unfair given that our squad comprises individuals selected in the top eight spots.” Lacob further explained.

Image Credits – TSN

At the same time, winning a championship should be challenging, and it’s tough to sympathize with millionaire owners who gripe about paying a luxury tax. Franchise values have increased dramatically throughout the years, and if owners decide their club has become too expensive to maintain, they may always sell it for a substantial profit.

Observing what adjustments the league’s luxury tax structure receives in the upcoming CBA will be intriguing. The present one ends after the 2023–24 season, and negotiations for a new one have already begun between the league and the players.

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