The world of sports is a world of money and change. Today the good folks over at Forbes are back, and they return with some interesting news. Today the word on the e-streets is that The Cavaliers Lost $40 Million USD Last Season. This interesting news comes “in the sense of earnings before interest, taxes, depreciation and amortization.” During the 2015-2016 season the Cavs spent $115 million USD in payroll which came with a $54 million USD luxury tax bill.
Of course there is also the benefits, cash involved in trades and more that results in the Cavs having spent roughly $185 million USD last season. Forbes stated: “It was the second biggest outlay in the history of the sport behind only the Brooklyn Nets’ ill-fated $205 million USD 2013-14 season, which included a $90.6 million USD luxury tax.” The interesting news comes as LeBron James has been recently unhappy with the team and asking for help. Speak your thoughts on the news in the comments below and keep it locked for much more on this coming very soon!