2022-23 Team Developments: News / Trades / Free Agents / Rumors

Discussion in 'Lakers Discussion' started by BangBoomPow, Jun 3, 2021.

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  1. OX1947

    OX1947 - Lakers MVP -

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    You are wise abeer. You are wise.
     
    OX1947, Sep 13, 2022
    #15661
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  2. OX1947

    OX1947 - Lakers MVP -

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    Any draft capital, even one, for mid tier players is a bad move unless there is some protection which is an issue in itself according to the CBA.

    It's likely the smart move to wait it out. As painful as it will be.
     
    OX1947, Sep 13, 2022
    #15662
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  3. lakerjones

    lakerjones Moderator Staff Member

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    It’s looking unlikely we move Russ with Ainge asking too much in return. Again, one pick for a few guys and Russ works for me and helps balance out the lineup. But two picks is too much. You’d think that Ainge would do it for less since he already got so many picks moving Gobert and Mitchell but no, he’s greedy.
     
    lakerjones, Sep 13, 2022
    #15663
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  4. VincePT

    VincePT - Lakers 6th Man -

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    keep the picks, use them next season along with our cap space and build a title-winning team then

    next year's FA class is interesting.

    another year of misery is worth it, if it means we can win in 2023/2024.
     
    VincePT, Sep 13, 2022
    #15664
  5. Holleewood

    Holleewood - Rookie -

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    Russell Westbrook put his LA home up for sale for $29.995 million, according to an article from E.B. Solomon on The Wall Street Journal.
    Could it finally be happening? Is this a sign that the Lakers are ready to move on or is Russ just trying to make a profit on his home that he bought for $19.75 million in 2018? It remains to be sign, but his name will stay in trade rumors until he's finally dealt or starts to play at an MVP level again.

    SOURCE: E.B. Solomon
    Sep 13, 2022, 1:07 PM ET
     
    Holleewood, Sep 13, 2022
    #15665
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  6. fabfourlakers

    fabfourlakers - Lakers Starter -

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    Yeah I saw Russ's home go up on the market...bought it for $20M in 2018, now tryna flip it for $30M...I don't think this means anything. Probably just smart thinking from Russ that he'll likely not be in LA past this year and market for RE is about to go down so he's tryna cash out before that happens (it's already kinda happening especially with the higher priced homes).

    I'm sure Russ has another smaller spot in LA too...I mean the guy is set to make a whoopping $47M this year and even after taxes he's looking at $24M-ish. Maybe he wants to downsize or maybe he's looking at life after basketball and wants to use $30M to buy a bunch of franchises / businesses like Shaq and Magic?
     
    fabfourlakers, Sep 13, 2022
    #15666
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  7. Slick2021

    Slick2021 - Lakers MVP -

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    Westbrook makes 35 million a year in endorsements alone, then he owns 10 car dealerships in Southern California. I don't think he's hurting for bread.
     
    Slick2021, Sep 13, 2022
    #15667
  8. Alcindor

    Alcindor - Lakers Starter -

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    He was in LA before he joined the team and he'll be in LA after he leaves the team. Selling a home in LA doesn't mean you are leaving LA. It means you are selling your house in LA. Probably upgrading to a Malibu beach property like a lot of out-of-town NBA people do like Kevin Garnet and Pat Riley. The dude is from LA.
     
    Alcindor, Sep 13, 2022
    #15668
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  9. LTLakerFan

    LTLakerFan - Lakers Legend -

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    Can you take a profit of say 10M on a house he bought 4 years ago (not counting any deductions for possible improvements made …. and invest it elsewhere such as a business venture not involved with real estate? Just asking? Without getting hammered on the taxes of that profit? I suppose business real estate or other income real estate would be OK?
     
    LTLakerFan, Sep 13, 2022
    #15669
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  10. lakerjones

    lakerjones Moderator Staff Member

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    Not really. It’s capital gains on a home not an income property so you can’t do a 1031 exchange. Up to $500k profit for a married couple or cohabitants on title is untaxed. Plus any improvements are deductible and costs of selling (commissions, painting, staging).
     
    Last edited: Sep 14, 2022
    lakerjones, Sep 13, 2022
    #15670
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  11. FrontOfJersey22

    FrontOfJersey22 - Lakers All Star -

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    Bad breaks? Nah man, the Laker Tax is real. So is the LeBron one- nobody wants to help either out.
     
    FrontOfJersey22, Sep 13, 2022
    #15671
  12. ElginTheGreat

    ElginTheGreat - Lakers MVP -

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    In this case I think both are true.
     
    ElginTheGreat, Sep 13, 2022
    #15672
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  13. LTLakerFan

    LTLakerFan - Lakers Legend -

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    LTLakerFan, Sep 13, 2022
    #15673
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  14. LTLakerFan

    LTLakerFan - Lakers Legend -

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    Kinda what I thought. So if he upsizes in property value will then be on the hook for much higher property taxes going forward on severely declining NBA money, and can't imagine his car dealerships are making a bunch of money in this economy and with electronics holdups in new car production and availability. But really have no idea there. Or will take a big hit in the capital gains profit to tax. My guess is he's doing something hopefully smart for his family financially going forward.
     
    LTLakerFan, Sep 13, 2022
    #15674
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  15. Slick2021

    Slick2021 - Lakers MVP -

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    Slick2021, Sep 13, 2022
    #15675
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  16. abeer3

    abeer3 - Lakers Legend -

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    could be that he has enough picks and is hoping to snag more THT-type projects from teams instead. utah can afford to audition young guys, and at some point, expiring money isn't worth all that much. they've got plenty of space and no one to spend it on.

    is it? it looks paltry to me. i want out of that market, and i fear that we won't be able to optimize the space because lebron and AD are win-now, and the best use of space next summer is rental fees.

    i'm not rich enough to know this stuff, but i think there are ways to roll the gains over to another purchase that evades the big tax hits on that kind of scratch. think three-team trade in the nba.
     
    abeer3, Sep 13, 2022
    #15676
  17. lakerjones

    lakerjones Moderator Staff Member

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    It’s a primary residence not an income property so no.

    Here’s a good article on the subject if interested: https://www.investopedia.com/ask/answers/06/capitalgainhomesale.asp
     
    lakerjones, Sep 13, 2022
    #15677
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  18. LA Bron

    LA Bron - Rookie -

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    Who Says No?

    LAL
    - Andrew Wiggins
    - James Wiseman
    - 2 Firsts from GS
    - Buddy Hield
    - Myles Turner

    GS
    - Anthony Davis
    - Kendrick Nunn

    IND
    - Russell Westbrook
    - 1st from Lakers
    - 1st from Lakers


    That gives us:

    Beverley
    Hield
    Wiggins
    LeBron
    Turner / Wiseman / Bryant
     
    LA Bron, Sep 14, 2022
    #15678
  19. Slick2021

    Slick2021 - Lakers MVP -

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    We are just punting on winning with Lebron now? That lineup isn't going anywhere. With that scenario we give up 2 better draft picks than we recieved, and a franchise player for some role players. No thank you.
     
    Slick2021, Sep 14, 2022
    #15679
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  20. sirronstuff

    sirronstuff - Lakers Legend -

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    I'm intrigued. We're trading star power for depth. Not a fan of giving up two firsts with Westbrook though.
     
    sirronstuff, Sep 14, 2022
    #15680
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