Led by star point guard Jason Kidd, the Nets reached the finals of two consecutive NBA seasons ( 2001––03), but failed to win either title. In 1977, the team returned to New Jersey and played as the New Jersey Nets from 1977 to 2012. In 1976, the ABA merged with the NBA, and the Nets were absorbed into the NBA along with three other ABA teams (the San Antonio Spurs, Indiana Pacers, and Denver Nuggets), all of whom remain in the league to this day. During this time, the Nets won two ABA championships (in 19). They played in New Jersey as the New Jersey Americans during their first season, before relocating to Long Island, New York, in 1968 and changing their name to the New York Nets. The club was established in 1967 as a charter franchise of the NBA's rival league, the American Basketball Association (ABA). They are one of two NBA teams located in New York City the other is the New York Knicks. The team plays its home games at Barclays Center. The Nets compete in the National Basketball Association (NBA) as a member of the Atlantic Division of the Eastern Conference. All other options, cap holds, exceptions are assumed as declined, waived or renounced.The Brooklyn Nets are an American professional basketball team based in the New York City borough of Brooklyn. This is calculated by determining all guaranteed salaries + any dead cap from non-guaranteed salaries. Cap TypeĢ022-23 Practical Cap Space Available Practical Cap Space: The team may only sign outside players using any available exceptions or at league minimum salaries. This means Cap Holds & Exceptions are NOT included in their Total Cap Allocations, and renouncing these figures will not afford them any cap space. The Nets are currently over the league salary cap. Teams that spend over the threshold pay fines (estimated below). Typeĭenotes the Nets current standing in terms of the luxury tax threshold. The "credit" balance remains as an exception that can be used within the next year to acquire salary via trade without further relinquishing additional salary. Trade Exception Details becomes available when a team relinquishes more salary than it acquires during a trade. Taxpayer Mid-Level Exception Details is awarded annually to teams who are above the cap and above the Luxury Tax Apron ($156,938,000) and can be used for contracts up to 3 years in length. Exceptions can be split up for multiple player signings, however only one of these exceptions may be used in a season and they cannot be combined. Player (6)Įxceptions are essentially "grants" offering teams an additional way to sign players. These figures are not counted toward a team's Luxury Tax Allocation. Renouncing these cap holds will NOT afford the team any new cap space. Since the Nets are currently over the league salary cap, these cap holds do not count against their Total Cap figure. Player (1)Ĭap holds represent "placeholders" for pending free agents, unsigned draft picks, offer sheets, etc. All count against the team's Total Cap Allocations. Player (1)Ĭap breakdowns for players who have been released or served 10-day contracts. Two-way salaries do not count against a team's Total Cap Allocations. Players signed to Two-Way contracts that are currently designated to G-League affiliate.
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