AngusH
Last month

Kings apparently below the cap

From the Members update email today:

"I want to congratulate Chris particularly, as he was given serious financial constraints going into this off-season. Last season was a financial disaster, and ownership formed the view that we needed to bring a very prudent approach to salaries for NBL22. I can tell you that many players took less money than on offer elsewhere, or signed on without going to market, accepting our offer. What was clear to us through these actions is that our players really want to play for the Kings and have made financial sacrifices to do so.

There is always speculation around the league as to which clubs spend to buy a Championship. Essentially, Chris was set a target to be under the salary cap so that we would not pay any luxury tax this season. The luxury tax is imposed by the NBL on teams that spend over the allowable limit (the soft cap), and our current spend puts us below this. The NBL does not allow clubs to announce their player payroll, but I am committing to sharing with you if we have any salary tax obligations and if so, what they are. I would welcome all clubs to do this to allow fans to get some perspective on the relative payrolls, without divulging specific player salaries."

Interesting comment in that final sentence there also. Kings look solid this season, although NS obviously doesn't come out of the cap. Ware was also supposedly one of/the highest paid import in the league, so subtract his coin, assume Hunter is on 50% of what Ware was on and maybe it adds up.

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Anonymous  
Last month

I would believe that.
Casper was a ballhog and a salary hog leading others to play for less.

Reply #869406 | Report this post


Anonymous  
Last month

They are still allowed marquee players which don't go towards the cap bar minimal. So while I can be that they are below the cap, they still spend more than all. At a guess I’d say Cairns would love their spend.

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Anonymous  
Last month

Not just Casper, but the tail end of the JVG era too with Brad Newleys salary being ridiculously high.

Any team can be under the cap with the loop holes included. Like Melbourne with the Asian player rule.

For example the Indigenous Player Rule that means none of Bayles salary counts towards the cap.

Next Star also doesn't count towards the cap.

The extended contract Jordan Hunter got won't load up the cap til the following season.

And its find, its within the rules, just a weird flex to assume guys took pay cuts.

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LoveBroker  
Last month

Being Sydney my default position would be this is BS.

But then again I don't know their salaries and there are no recognised top tier talents in there so its possible.

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Zodiac  
Last month

When Casper Ware signed with the Kings in 2019 United's CEO said Ware rejected the largest contract his team had offered a player to sign with the Kings. There was speculation a large part of the reason Ware left United for the Kings is because the CEO told him he was the highest paid player on the team when in fact it was DJ Kennedy, said to be on $750K that season.

So if United offered Casper more than that and he rejected it to sign with the Kings instead it would be safe to assume he was on more than $750K a year in his 2 year deal at the Kings. Last season though players were asked to take 50% paycuts due to Covid to ensure the season went ahead after initially opting out of it Casper then opted back in and although he may have 'only' been paid say $400K last season I believe players salaries still counted for the original amount against the cap.

So Casper leaving has probably freed up around $800K in the cap.

Reply #869411 | Report this post


AngusH  
Last month

Wasn't aware of the Indigenous Player rule - was this brought in for Cairns with Jawai initially? Good point though. One NS, one Indigenous Player, perhaps Cooks as a Marquee player. That means Martin/Hunter/Adams drawing typical import salaries (probably in that order, from high to low), Hunter paid starters money, DJ still on his rookie deal, Bruce/Glover/Vodanovich in that order from starter/rotation/fringe salaries, Wani minimum, and who knows with Matur Maker - presumably not a huge deal, given he will be competing for minutes with Makur. Seems realistic to me, taking advantage of every special salary cap exception minus the Asian player one.

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Zodiac  
Last month

Newley also although not on his original big money 3 year deal he signed with the Kings when he left Spain signed another 2 year deal after that which was probably still for good money just not the $300K a year his and Lisch's initial 3 year deals were supposedly for. Kickert too was probably still on half decent money last season.

Don't forget Xavier Cooks when he first signed with the Kings to a 2 year deal it was said he took a discount on the first year and to make up for it the second year was heavily backloaded, that second year was last season too. He's just re-signed to a new one year deal.

So with Casper & Xavier's big money deals along with Newley & Kickert's deals expiring all coming off of the books I could see how they might be under the cap.

Reply #869413 | Report this post


Zodiac  
Last month

Another thing too was Lisch retired with one year still remaining on his contract and the Kings kept him on as an assistant coach last season so who knows maybe the last year of Lisch's contract still counted against their cap last season too.

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Anonymous  
Last month

I'd say Cooks is on marquee money now as it was rumoured he was on 400k last season.

Reply #869418 | Report this post


LoveBroker  
Last month

Newley also although not on his original big money 3 year deal he signed with the Kings when he left Spain signed another 2 year deal after that which was probably still for good money just not the $300K a year his and Lisch's initial 3 year deals were supposedly for. Kickert too was probably still on half decent money last season.


2 seasons ago it was reported that Lisch, Newley and Kicks all took pay cuts already.

https://www.hoops.com.au/forum/46134-paywall-kings-players-pay-cut-article/

So the reduction is not that great.

Reply #869419 | Report this post


Anonymous  
Last month

Indigenous player rule is only recently added for rookies.
First year 100% doesn't count towards cap.
Year two is 50%
Year three is 25%.
So wouldn’t include Jawai now

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Anon  
Last month

Theres always a first time if you believe them.What about all the previous years.Have they paid there luxury tax.

Reply #869424 | Report this post


Anonymous  
Last month

All NBL clubs should announce their player salary's like what the NBA does. Makes our league a bit of a joke. No one really knows unless you work in the business.

Public has a right to know how much NBL players are getting and which clubs are going over the salary cap.

Reply #869427 | Report this post


Zodiac  
Last month

I disagree I don't think it's anyone's business whatsoever what the players are getting paid. Maybe publish total salary cap spends but not individual player salaries.

Reply #869428 | Report this post


Anonymous  
Last month

"Public has a right to know how much NBL players are getting and which clubs are going over the salary cap." Why, it's a privately run organisation. What utter rubbish.

Reply #869431 | Report this post


Anonymous  
Last month

Agree, total salary spent but players salaries are their business..

Reply #869432 | Report this post


LoveBroker  
Last month

There was talk the league was going to release the salaries within each team without the names against each figure, this was during the raft of reforms accompanying soft cap / luxury tax.

It was never done.

But it never got to the detail of whether the raw data would be published or the taxable amounts published.

Reply #869433 | Report this post


Anonymous  
Last month

Yep salaries are private. This isn't the NBA.
Most salary figures on this forum are pure and stupid guesses.

Reply #869435 | Report this post


LoveBroker  
Last month

Overall I find it hilarious that the Kings who have been at the Avant Garde of over-spending, including :

- Bringing in Randle.
- Outbidding United for Ware.
- Having 4 imports 2 season ago.
- Selling their own proprietorship to Bogut.

And now extolling the virtues of prudent financial management.

And all those years of reckless spending they just decided to forfeit the Grand Finals, then bitch about it.

Well done Smith.

Reply #869437 | Report this post


Zodiac  
Last month

Don't forget giving an untried coach in Andrew Gaze a 3 year contract for $400K a year.

Reply #869444 | Report this post


Anonymous  
Last month

Kings always overspend. It's in their nature.

Reply #869449 | Report this post


Bullets  
Last month

@ Zodiac: If DJ Kennedy really was on $750k that year, he outright robbed MU. I went to 4-5 games that year and wasn't impressed at all. Skill wise he was an average import at best. Struggled to shoot outside the paint and wasn’t nearly the athlete he was advertised to be. On top of that from memory he was injured a fair bit too. $750k was highway robbery Know he’s had critics but at least Casper was on the floor most of the time

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D2.0  
Last month

ROFL
What a load of wank.

I would put this challenge to them:
Divulge your Salary Tax obligations for the last 5 seasons!

They have outspent everyone for years, trying to buy a championship, and have failed.
Now they have put the brakes on.

And keep in mind that since the soft cap is based on the average spend, it has increased dramatically since it was introduced.

There's also the simple fact that Sydney is a fucking disaster zone, so their chances of ticket revenue look extremely risky, for the 2nd season in succession. So naturally they are going to curtail their spend.
Let's see how long this commitment to transparency lasts, once things are back to normal in a year or two.

Reply #869454 | Report this post


Zodiac  
Last month

If DJ Kennedy really was on $750k that year, he outright robbed MU.


I agree with everything you said but that was the talk at the time that he was on that money as he supposedly was a highly credentialed import in Europe. Obviously got a good agent too.

Reply #869456 | Report this post


Anonymous  
Last month

"So with Casper & Xavier's big money deals along with Newley & Kickert's deals expiring all coming off of the books I could see how they might be under the cap."

Weren't these multi year contracts discounted last year when already contracted players had their salaries reduced for COVID reasons? Or am I remembering that wrong?

Reply #869458 | Report this post


Zodiac  
Last month

So naturally they are going to curtail their spend.
Let's see how long this commitment to transparency lasts, once things are back to normal in a year or two.


I think you're spot on here Dazz, United too look to have really pulled their sending in both teams probably mindful of low ticket revenue due to another Covid-interrupted season ahead and the Kings using it to trying to paint themselves as now suddenly being financially frugal.

Reply #869459 | Report this post


Zodiac  
Last month

Weren't these multi year contracts discounted last year when already contracted players had their salaries reduced for COVID reasons? Or am I remembering that wrong?


They were coming from a high point though and their non-discounted salaries still counted as their full salaries against the cap though.

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KET  
Last month

" Last season was a financial disaster"

Isn't that a weird thing to publicly state even in covid times?

That sounds troubling

Reply #869474 | Report this post


Perthworld  
Last month

Ha! So Paul Smith has finally decided to stop recklessly spending and wants a pat on the back for it? It's a no from me.

Reply #869477 | Report this post




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