“That’s how business is done” Joe Lacob, Warriors end up saving $60 Million in current offseason
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Joe Lacob
There was a lot of speculation about where Steve Kerr and Joe Lacob’s Golden State will be at the end of this NBA season, after suffering their worst couple of years in recent history. People forget that ‘Warriors’ is their name, it is a part of who they are, winning is in their DNA. The Warriors have stepped up and claimed what is theirs, their opponents have bowed down, and the haters are nowhere to be seen, as the Golden State Warriors clinch their 4th NBA Title in 8 seasons.
Joe Lacob and Golden State Warriors may have lost some raw talent in their contingent, but they still have loads of talent in their roster. The Golden State Warriors’ roster includes a lot of guys who are still young in the league, and haven’t proven themselves. But players like Jordan Poole, Otto Porter Jr., Gary Payton II, Jonathan Kuminga and Kevon Looney fit well within the system, as displayed in the playoffs this year, and Joe Lacob is the man behind this masterstroke
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“It’s a very unfair system” – Joe Lacob is a man on a mission, as he strides to make Golden State Warriors stronger financially
JaMychal Green is set to sign with the reigning champions after completing a buyout from the Oklahoma City Thunder, giving Golden State its 12th guaranteed contract. The Warriors aren’t rushing Andre Iguodala into a decision on retirement, content to hold a roster spot for him into September, and reportedly plan to sign second-round pick Ryan Rollins to full-time NBA deal. The fact that the Warriors have already signed 2 budding NBA stars, after letting go of Gary Payton II and Otto Porter Jr. is fascinating to say the least.
The Warriors set a record in total payroll last season that they’ll break in 2022-23. No owner with the possible exception of Steve Ballmer has been more willing to go deep into the luxury tax than Joe Lacob. After signing Ryan and JaMychal and letting go of Payton and Porter, Warriors have saved close to 50 Million $ in salary.
While making an appearance on the Point Forward Podcast, hosted by Andre Iguodala and Evan Turner, Lacob called the NBA’s luxury tax structure “very unfair”, lamenting the extra costs of having the league’s highest payroll.
This past season, the Warriors paid Stephen Curry $48million, Klay Thompson $40m, Andrew Wiggins $33m, Draymond Green $25m, and former second overall pick James Wiseman $9m, totalling $155m from just five of their 15 roster spots. The NBA’s ‘soft cap’ – meaning the salary cap that can be exceeded to re-sign a team’s current players – was set at $112m for 2021-22, and will rise to $122m for the upcoming season.
“The truth is, we’re only $40 million more than the luxury tax. Now, that’s not small but it’s not a massive number, We’re $200 million over in total because most of that is this incredible penal luxury tax. And what I consider to be unfair and I’m going to say it on this podcast, and I hope it gets back to whoever is listening.”
It is a known fact that the Golden State Warriors are one of the highest luxury tax-paying teams in the league. Ahead of the 2022-23 season, the team had two important contracts with Andrew Wiggins and Jordan Poole, which they wanted to extend, as they could only sign Kevon Looney from free agency this year.
However they will be glad that the ‘Big 3’ of thier team is intact and happy as they hope to bring more talent to Golden State. The horrific end to the 2019 NBA Finals, which saw Klay suffering a torn ACL, coupled with 2 of their worst seasons in recent history, some people were assuming the dynasty had died, well, seems like it won’t so soon, and Joe Lacob will make sure it goes on for as long as possible!
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Aditya Minocha
(216 Articles Published)