Report: Cleveland Cavaliers are set to be hit with $54 million fine by the NBA

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Football News

The Cleveland Cavaliers completed one of the greatest feats in modern-day basketball whey they overcame a 3-1 deficit against the reigning champions and won their inaugural NBA championship.

A feel-good aura has swept through the city of Cleveland, this victory was about much more than a title.

Owner Dan Gilbert made it his mission to hang a championship banner in northeast Ohio and was prepared to pull out all the stops to make it happen. One would imagine the love and adulation he has received in the wake of their championship campaign makes the long journey more than worth it, but it appears it has come at a cost.

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According to Mark Stein of ESPN, that cost is around $54 million. Could Gilbert become the first man in history to gleefully write a cheque for that much money?

Although the new salary cap is $94.1 million, last year it was a meagre $70 million by comparison.

The Cavs had the most expensive roster in the league as they shelled out a shade under $106 million on their stars - $60m of which can be attributed to LeBron James, Kevin Love, Kyrie Irving and Tristan Thompson alone.

Whilst their success may have come at a hefty price, Stein's report indicates they are not the only franchise to stray beyond the tax threshold.

"Sources told that the league's annual audit - which established a $94.1 million salary cap for the 2016-17 campaign - also officially confirmed that seven teams, led by far by Cleveland, strayed beyond the $84.7 million tax threshold for the 2015-16 season.

"In addition to the $54 million in luxury taxes that Cleveland owes before the month is out, three other teams have eight-figure tax obligations to settle. The Los Angeles Clippers owe $19.9 million in luxury tax, followed by the Golden State Warriors ($14.8 million) and Oklahoma City Thunder ($14.5 million).

"The league's other three tax teams are the San Antonio Spurs ($4.9 million), Houston Rockets ($4.9 million) and Chicago Bulls ($4.2 million)."

There is a common theme amongst those sides. The Golden State Warriors made it all the way to the NBA Finals, the Oklahoma City Thunder made it to the Western Conference Finals and the Los Angeles Clippers would have almost certainly of had a deeper playoff run if Chris Paul and Blake Griffin had managed to remain healthy.

The Spurs also enjoyed a record best regular season, but the Bulls and Rockets vastly fell below expectations. It comes as no surprise they are rebuilding their rosters as a result. In short, money equates a degree of success in the NBA.

Stein went on to explain how the penalties these franchises incur will affect the league.

"Because of the league's revenue-sharing plan, 50 percent of the nearly $120 million in leaguewide luxury tax will be used to fund revenue sharing for the past season, while the league's 23 non-tax-paying teams will each receive a $2.5 million share of the remaining 50 percent this month."

NBA Finals
San Antonio Spurs
Southwest Division
Western Conference
Houston Rockets
Eastern Conference
LA Clippers
Pacific Division
Cleveland Cavaliers
Central Division
Golden State Warriors
Chicago Bulls

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