Money and cap space are not the problems. The team’s owner, Mikhail D. Prokhorov, is a Russian oligarch, and its payroll, about $58.7 million, is the lowest in the league. By contrast, the Warriors’ is $107 million. The Nets’ next opponent, Cleveland, owns the league’s highest payroll at $131.3 million, well above the soft $94.1 million league cap and the $113.3 million luxury-tax limit.It was not so long ago when the Nets had the league's highest payroll and a crushing luxury tax.
This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9B project to build the Barclays Center arena and 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland Group bought a 70% stake going forward. As of 2018, after the arena and four towers were built, Greenland will own 95% of future construction.