Basketball

Warriors owner pays dearly for his words: 6-figure fine

Golden State Warriors owner Joe Lacob is not satisfied with the huge luxury tax penalty he is paying, so he is likely to be even more dismayed by the NBA’s punishment in his recent comments.

According to ESPN’s Adrian Wojnarowski, the NBA punished Lacob with a $500,000 fine for comments he made on Andre Iguodala’s podcast about the collective bargaining agreement, specifically the luxury tax imposed on teams. The Warriors boss apparently violated the league’s policy on team owners and NBA officials regarding “unauthorized communications regarding collective bargaining.”.

Per your reminder, Joe Lacob criticized the NBA for what he called a “very unfair” luxury tax system. He pointed out that the Warriors’ core is composed mainly of players who drafted but are still paying $200 million because of the penalty.

“The truth is that we are only $40 million over the luxury tax. Now, it’s not little but it’s not a huge number. In total we are at more than $200 million because we pay most of it on the penalty regarding the luxury tax. This is what I consider to be unfair, and I’m going to say it in this podcast, hoping it will reach anyone who is listening. Obviously it’s selfish for me to say this, but I think it’s a very unfair system because our team is built by 8 players, the best 8, who are all drafted by us.”

Lacob has certainly conveyed his message to the NBA. Unfortunately for him, this has cost him dearly.

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