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Nets $12 Million Over Luxury Tax?

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NEW YORK - MAY 19:  New Jersey Nets Owner Mikhail Prokhorov addresses the media during a press conference at the Four Seasons Hotel on May 19, 2010 in New York City.  (Photo by Mike Stobe/Getty Images)
NEW YORK - MAY 19: New Jersey Nets Owner Mikhail Prokhorov addresses the media during a press conference at the Four Seasons Hotel on May 19, 2010 in New York City. (Photo by Mike Stobe/Getty Images)
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Mikhail Prokhorov's luxury tax bill will approach $12 million this season and the Nets will have one of the league's highest payrolls, according to data gathered by Mark Deeks of Sham Sports, who publishes the most authoritative NBA salary information on the web.

According to Deek's latest information, the Nets payroll next season will be $81.3 million, but that number doesn't include the $473,604 the Nets agreed to pay Toko Shengelia Monday, bringing the current total to $81.8 million, without a 14th or 15th man. With a luxury tax threshold of $70.3 million, that works out to a tax bill of at least $11.6 million. The Nets' payroll will likely wind up top three or four in the league, joining the likes of the Heat, Lakers and Knicks.

Deeks' data also includes a few previously undisclosed or unconfirmed notes about the contracts signed this month. Deron Williams contract has an ETO in year five meaning he can opt out in 2016. Similarly, Brook Lopez has a player option in 2015, after the third year of his four-year deal. Gerald Wallace will be paid $9.7 million in his first year, then $10.1 million in each of the next four. Also, Tyshawn Taylor has a two-year deal. League source denies Taylor has an unguaranteed third year or that similarly, Mirza Teletovic has a fourth, as Deeks reports.