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After months of trying in vain, the Brooklyn Nets may have finally found a way to wiggle out from under the hefty luxury tax bills that've been piling up since loose-fisted billionaire owner Mikhail Prokhorov's started spending freely in the summer of 2012.
That spending spree - which made the Nets' roster the most expensive in the NBA and saw the team lose an estimated $144 million in 2013-14 alone - included the acquisition of past-his-prime shooting guard Joe Johnson, and the four years and approximately $90 million left on his contract.
That contract is now down to one year and $24.9 million, but the Nets won't be the ones to pay it if they don't have to. The Cleveland Cavaliers are considering swinging a trade for Johnson, according to ESPN's Brian Windhorst.
After kicking off the summer with some lavish contracts to keep their own free agents in the fold, the Cavaliers themselves are staring at a potentially historic luxury tax bill. The difference is they have LeBron James and two other superstars, and are likely to be next year's title favorites. Paying a fat tax bill would be a small price for the city of Cleveland's first championship in over 50 years.
Basketball-wise, Johnson would be a solid fit, even if he's 34 and on the wrong side of the hill. He's still a capable ball-handler and a solid passer, he's money from long range, and he's strong enough to bully opposing wings in the post.
Logistically, it's unclear how the Cavs would make a deal for him work. Given that they're already capped out, there's no obvious way to match the Nets for outgoing salary. They'd use Brendan Haywood and his $10.5-million non-guaranteed salary - which the Nets could immediately waive to clear the money off their books - but that would still leave the Cavs well-short of Johnson's near $25-million hit.
As Windhorst points out, a possible avenue for Cleveland would be to include oft-injured center Anderson Varejao - who is set to make $9.6 million this coming season - in the deal.
Johnson, a seven-time All-Star, averaged 14.4 points, 4.8 rebounds, and 3.7 assists last season, shooting 43.5 percent from the field and 35.9 percent from deep.
