Crazy! Wish the Spurs could spend money like this..

[SilverSpur]

Nets Spent $2.75M on Draft Night - NetsDaily

In another indication of Mikhail Prokhorov's willingness to spend, league sources say the Nets paid out $2.75 million on Draft Night to secure the draft rights of Tyshawn Taylor, taken at #41, and Toko Shengelia, taken at #54. The Nets paid the Trail Blazers $2 million for Taylor's rights and the 76ers $750,000 for Shengelia's. In both cases, the Nets had the other team make their pick, then immediately bought the draft rights.

In addition to the money spent on the rights, the Nets paid Shengelia's Belgian team a $300,000 buyout and gave both players guaranteed two-year deals, knowing that they would have to pay dollar-for-dollar luxury taxes on both. Taylor and Shengelia will be paid $473,604 in their first year and $788,872 in the second for a total of $1,262,476 ... plus an equal amount in luxury taxes. The Nets were under no obligation to sign either to a guaranteed deal.

Bottom line, the Nets committed $4.5 million to signing Taylor in draft rights playment, salary and luxury taxes and $3.6 million to signing Shengelia in draft rights payment, buyout, salary and luxury taxes, or a grand total of more than $8 million.

[JuanCaca]

or mikhail prokhorov have no idea of how run a nba team, or he is whashing mafia money, or he is mark cuban reloaded, or they have a crystal ball that tell them shengelia is a future HOF

or... i dont know!

[Kager]

I am glad we r not spending money like this on drafting! Money can get u a team but it won't necessarily make it good.... He is spending money he wanted to use on a big 3

[WILLTHETHRILL]

2 million on a pick in the 40's? no thanks!

[Jose_TheGenius]

if the guy has the money and it won't effect the cap, why not?

i think it would've been a stupid move if he made his team worse because of the luxury tax woes, but the guy has the money and made his team younger with those pics