Brooklyn Nets gets slapped with harsh reality check of $100 Million after failed 2022 playoffs
Follow Us
Kyrie Irving And Kevin Durant
The Brooklyn Nets had one of the most nightmarish seasons, with catastrophes on and off the court. The Brooklyn Nets and their partner, Barclays Center, incurred losses between $50 million to $100 million combined in the 2021-22 season. The Brooklyn Nets were swept off their feet by The Boston Celtics in the first round of playoffs on Monday night with a 116-112 , Game 4 loss to Celtics concluding their disappointing season and a disastrous postseason, far below preseason hopes and expectations. At the fore of that disappointment and mockery are Kevin Durant and Kyrie Irving, the star leaders of a club, that on paper could have reached The Finals.
Also Read :“This win by Celtics is only justice for basketball” Stephen A….
The Nets owner, Joe Tsai ,believed that after assuming control of the Nets and Barclays in August of 2019 he could make it into a cutting edge operation like Alibaba, the Chinese E-commerce giant co-founded by him, and which made him worth roughly $10 billion. Joe Tsai cannot just fire players after a substandard season , which is why he decided to sack John Abbamondi, the CEO of Brooklyn Sports Entertainment (BSE), the conglomerate of the Nets and Barclays Center, who announced in February that he would leave at the end of the season.
Also Read :“If you opt-out, we’re not offering you a long-term max contract”…
Kyrie Irving & Kevin Durant the culprits at Brooklyn Nets ?
Tsai handed ridiculous contracts to superstars Kevin Durant and Kyrie Irving, recording the second-largest payroll in the NBA. He’ll end up paying roughly $100 million in luxury tax, the second-highest bill in NBA history. The question is whether his demands are too high or the Nets should be doing better financially. The Nets set records for attendance, ticket revenue and sponsorships under Abbamondi, Tsai demands results. Although he hasn’t meddled in Nets general manager Sean Marks’ basketball decisions. But when it comes to managing his money, Tsai has demanded either success or replacements.
The Big 3 of the Nets, consisting of Kevin Durant, Kyrie Irving and James Harden played just 16 games together, making it hard to cash in fully on their names. Durant missed a quarter of this season due to a knee injury, Irving missed nearly two-thirds due to his refusal to get vaccinated, and Harden demanded a trade — one that brought back Ben Simmons, who still hasn’t played.
This all traces back to the most overused word in sports — culture. Every big-league organization professes to have one. It’s certainly a triple-double of problems, problems and more problems for the Nets as they face plenty of questions financially and technically. From figuring out a way for the team to get over the lows and win a championship, the team also has to take care of the business side and make sure they can continuously support the franchise financially to keep competing in the future.
Stay Updated!
FS Desk
(8023 Articles Published)