Two years ago, the Nets lost a staggering $144 million, most of it because of a $91 million luxury tax bill Mikhail Prokhorov paid the NBA. Now, as the team's Russian ownership moves closer to gaining complete control of the franchise --and Barclays Center, there's a possibility that for the first time in Brooklyn, the Nets could be a profitable venture ... this year.
According to one team insider, the key difference between profit and loss is the Nets decision to buyout and stretch Deron Williams contract, something with business and basketball implications. By dumping D-Will, the Nets didn't just get under the luxury tax threshold, they also avoided paying the repeater tax.