Knicks Have Paid More Luxury Tax Than Any Other Team
The New York Knicks are not afraid to spend money in order to make their team better. Although New York has had playoff teams in the past, everyone in the franchise wants to win one thing, and that is a championship.
Despite all the spending and signing of contracts, the Knicks have not won an NBA title since 1973. The team has been criticized by many for its bad financial and basketball decisions in the past. New York was in a dark era under Isiah Thomas and he almost brought the Knicks to rock bottom. Luckily, the franchise moved on and they have now developed a roster that can compete in the Eastern Conference. Unfortunately, Thomas’ mistakes still have not been entirely fixed and the Knicks will be dealing with those issues for a while.
Thomas did not put together a talented team in New York and to make matters worse, he did nothing to get the Knicks under the luxury tax line. Although the franchise did pay the tax in years prior, Thomas essentially put the Knicks there for good. The luxury tax penalty was instituted in the 2000-01 season, and since then, the Knicks have paid more penalties than any other NBA team, Yahoo! Sports.
1. New York Knicks — $195,288,145
2. Dallas Mavericks — $150,530,433
3. Portland Trail Blazers — $89,052,474
4. Los Angeles Lakers — $84,417,253
5. Boston Celtics — $46,094,213
New York signed players like Steve Francis and Stephon Marbury, players that cost a lot of money but never lived up to expectations. The team still spends millions of dollars on players, but their current rosters is filled with very capable athletes. Carmelo Anthony and Amar’e Stoudemire may be making more than several of their teammates combined, but these two stars can surely do great things for this franchise.
The Knicks want nothing but to be the last team standing in June. Even though going over the luxury tax is never an ideal situation, no one will lambaste the Knicks if they win the title. In the list of the five teams above, three of them have won at least one championship since the luxury tax penalty came into affect. The New York Knicks are always under immense pressure, if they do not succeed with this roster, a major facelift will be underway in Manhattan.