Warriors owner Joe Lacob slams NBA for ‘unfair’ luxury tax laws

Joe Lacob is one of the most successful team owners in the NBA right now. The four championships the Golden State Warriors have won over the past eight years is an undeniably clear testament to this fact.

Lacob, who has been a majority owner of the team since 2010, has been through quite a lot with the Warriors. He has seen this team through during their dark days, and naturally, he’s been reveling in their success during the glory years. Amid all the highs and lows, the 66-year-old billionaire admits that the “hardest thing of all” is navigating the NBA’s luxury tax laws.

Speaking bluntly on a recent episode of the Point Forward podcast with Andre Iguodala and Evan Turner, Lacob opened up about the numerous challenges he’s faced in this respect, and how he truly feels slighted by the league’s governing policies on the same:

“The truth is, we’re only $40 million more than the luxury tax,” Lacob said (h/t Ali Thanawalla of NB Sports). “Now, that’s not small but it’s not a massive number. We’re $200 million over in total because most of that is this incredible penal luxury tax. And what I consider to be unfair and I’m going to say it on this podcast and I hope it gets back to whoever is listening … and obviously it’s self-serving for me to say this, but I think it’s a very unfair system because our team is built by — all top eight players are all drafted by this team.”

Lacob goes on to point out that, unlike other teams in the league, the Warriors built their squad from the ground up. This is the very reason why he wants to know why they’re being penalized for their success.

“And I think the luxury tax, you should be paying a high luxury tax if you’re using it to go get free agents and outspend your competition,” Lacob continued. “But if you’re developing your own guys and paying Steph Curry what he deserves and Klay Thompson what he’s earned, why am I paying $200 million in luxury tax? I don’t think that’s fair.”

I see no lies here. The Warriors did a commendable job by building their dynasty from the draft, and when you look at it from this perspective, it does seem odd that they’re now suffering the financial repercussions of the sound decisions they’ve made through the years.

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