Colors for the Brooklyn Nets are black and white, but the team’s income statement is bleeding red.
Mikhail Prokhorov’s team was the only one in the NBA, in fact, to post an operating loss last season.
The Nets’ $5.7 million loss — compared with $108.9 million profit for the Knicks — had everything to do with a $20 million luxury tax, Forbes said in its annual listing of NBA valuations.
The team, with a player payroll of $92 million, got hit with the levy for busting through league’s $63 million salary cap.
Prokhorov accepted the extra charge as part of his quest to build championship team.