Recent News

Paul Pierce to Sign with Wizards

July 13th, 2014 at 9:05 PM
By Richard N. Funaro

After one season for the Nets, Paul Pierce is leaving Brooklyn to sign a two-year deal with the Washington Wizards, according to ESPN's Marc Stein on Twitter. The deal is worth $11 million, with the second year of the contract being a player option.

According to the New York Post's Tim Bontemps, the Nets were hesitant to re-sign Pierce since it would push them further over the luxury tax. As of this writing, the Nets already feature a payroll that sits over $20 million over the salary cap.

Teams rumored to be interested in Pierce included the Nets, Clippers, and Rockets. The Wizards were left with a hole at small forward with the departure of Trevor Ariza, who signed a four-year, $32 million deal with Houston earlier Saturday.

Pierce's Brooklyn departure now leaves the team with unreliable and unproven options to replace The Truth at the three. Currently, the Nets have an oft-injured Andrei Kirilenko and recent acquisition Sergey Karasev as the only small forwards on the team. However, the Nets are said to be close to a deal to bring 2011 second round pick Bojan Bogdanovic over from Europe. If the Nets do indeed ink Bogdanovic, both he and second year pro Karasev would likely the see the majority of minutes at small forward.

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ESPN: Nets Will Pay $90 Million in Luxury Taxes

July 12th, 2014 at 10:24 PM
By Richard N. Funaro

After spending over $100 million in salaries during the 2013-14 season, the Nets are set to pay another $90 million in luxury taxes, according to an ESPN report. The NBA's luxury tax threshold for this past season $71.7 million.

The Nets were reportedly one of five teams to pay the luxury tax this year, with the next closest tax paying team being the crosstown Knicks, who paid $36.3 million. The Clippers, Heat, and Lakers were the other teams that paid the tax.

The league has also raised the salary cap for teams to $63.065 million, which is an increase of roughly $5 million over last year's cap. Currently, the Nets' payroll stands at $87,660,430. Keep in mind the Nets could still re-sign Paul Pierce and bring in 2011 draft pick Bojan Bogdanovic, plus possibly take on salary in a trade during the season.

The Nets will again pay the luxury tax next season despite the league raising the luxury tax threshold to $76.8 million. How much they will pay after this season remains to be seen since aspects of the team's payroll such as cap holds and bonuses have not been finalized. For an explanation of how the luxury tax works and how the league figures out how much taxpaying teams will pay, Larry Coon's NBA Salary Cap FAQ provides a very thorough run-through of the NBA's salary cap and contract issues.

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Meet the Nets: a Look at Newest Nets Jarrett Jack and Sergey Karasev

July 9th, 2014 at 2:38 PM
By Richard N. Funaro

Earlier today, the Nets acquired guard Jarrett Jack and forward Sergey Karasev from the Cleveland Cavaliers as a part of a three-team trade that sent Marcus Thornton to Boston. In the deal, the Nets picked up a solid, proven NBA guard (Jack) and an intriguing former first round pick (Karasev). Let's meet the newest members of the Brooklyn Nets.

The 30-year-old Jack is now with his fourth team in four years and his seventh NBA team in nine years in the league. The 6'3" guard figures to take over the backup point guard role that was vacant following Shaun Livingston's recent departure to Golden State (side note: Jack was Livingston's replacement in Cleveland this past season after Livingston left the Cavs for Brooklyn. Deja vu all over again).

According to TNT's David Aldridge, the Nets are considering using Jack the same way Livingston was used last season, which means he could see time as the starting shooting guard next to Deron Williams. Throughout his career, Jack has been shuffled back-and-forth from the starting lineup and role player off the bench. He started in 31 of 80 games for the Cavs last season, but only four of 79 for the Warriors in 2012-13. For his career, Jack has averaged just under 11 points/game on 44.3% shooting. The guard is also a good source of assists (4.3 per game in his career).

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Breaking News: Nets, Celtics, Cavs Close to 3-Way Trade

July 9th, 2014 at 11:02 AM
By Richard N. Funaro

According to ESPN's Marc Stein, the Nets, Boston Celtics, and Cleveland Cavaliers are close to an agreement on a trade that would send PG Jarrett Jack and forward and 2013 first round pick Sergey Kerasev from the Cavs to Brooklyn.

The Celtics would receive Marcus Thornton from the Nets, along with Tyler Zeller and a 2016 first round pick from Cleveland. The Cavs, who have been trying to clear as much cap space as possible in order to make a run at bringing LeBron James back to Ohio, will likely receive a future second round pick in the deal. Dealing Jack, who is due to earn $6.3 million in each of the next two seasons (with a team option for the same amount in 2016-17) plus Zeller, Kerasev and a pick frees up approximately $20 million for the Cavs.

Reports surfaced Monday that the Nets had agreed on a trade for Jack and that the Cavs were searching for a third team to take on Thornton and his $8.5 million salary for 2014-15 (which is the final year of a four-year contract he signed with the Kings back in 2011).

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Nets Looking to Sign Bojan Bogdanovic

July 7th, 2014 at 12:16 PM
By Richard N. Funaro

The Nets are trying to sign Croatian small forward Bojan Bogdanovic (not to be confused with 2014 Phoenix draftee Bogdan Bogdanovic) away from his Euroleague team, according to Eurobasket's David Pick. Pick also reports that the two sides are discussing a three-year deal. According to HoopsRumors.com, the mid-level exception (which is the only type of deal the Nets can offer Bogdanovic since the Nets are a taxpaying team this year) is worth $10,276,530, which is roughly $3.4 million per year.

Brooklyn acquired the 6'8" forward's draft rights during the 2011 NBA Draft from the Minnesota Timberwolves. The T-Wolves had acquired Bogdanovic earlier that night from the Miami Heat, who took him with the 31st overall pick.

While playing for Fenerbache in Turkey this past season, the 25-year-old Bogdanovic posted 14.8 PPG on just under 47% shooting. While the forward only hit 29.8% of his three point attempts this season, he has shown the ability to be a weapon beyond the arc in the past (34.1% in 2010-11, 41.1% in '11-12, and 40.5% in '12-13). DraftExpress.com does an excellent job of breaking down Bogdanovic's game.

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