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Luxury Tax

SPORTS
February 8, 2010 | Inquirer wire services
Daly was threatened The FBI investigated a series of threatening letters sent to Detroit Pistons coach Chuck Daly at the height of his team's success during the 1989-90 "Bad Boys" championship era, newly released government records show. The 67 pages, obtained by the Associated Press as part of a Freedom of Information Act request, detail how federal agents in Detroit ordered fingerprint, handwriting and even psycho- linguistic analyses as part of an effort to determine who sent the letters.
SPORTS
December 22, 2009 | Daily News Wire Services
The New York Mets have discussed bringing back righthander Pedro Martinez, according to ESPN.com, citing a baseball person who it said had spoken with the team. According to the report, the Mets have talked to Martinez' agent, Fernando Cuza, but Martinez is asking for more money than the team wishes to guarantee. Martinez left the Mets after the 2008 season, then signed with the Phillies at midseason. He was the losing pitcher in Game 6 of the World Series, when the Phillies were eliminated by the New York Yankees.
SPORTS
June 17, 2009 | Daily News Wire Services
Hedo Turkoglu emptied his locker, shook hands with teammates and walked out of the Orlando Magic's practice facility yesterday. The Magic are optimistic it wasn't the last time. Chief operating officer Alex Martins said the team is prepared to go over the luxury tax for the first time in its history, perhaps giving the Magic the space they need to re-sign the soon-to-be free agent Turkoglu and remain a contender to return to the NBA Finals. "The luxury tax won't be a hindrance," Martins said.
BUSINESS
June 7, 2009 | By Suzette Parmley INQUIRER STAFF WRITER
When the owner of a five-star resort hotel in Southern California decided to dump its property manager earlier this year, it was just the beginning of a very public and ugly divorce. The dumpee is none other than the Four Seasons, a brand synonymous with luxury. And it is battling to stay on managing the Four Seasons Resort Aviara near San Diego. Last month, the hotel's owner sought a temporary restraining order in federal court barring the management from entering the premises.
SPORTS
January 18, 2009 | THE INQUIRER STAFF
The Pittsburgh Penguins and Edmonton Oilers each tried to shore up a weak spot by swapping backup goaltenders yesterday, with the Penguins acquiring Mathieu Garon for Dany Sabourin, minor-league forward Ryan Stone, and a fourth-round draft pick in 2011. Neither goalie was satisfying his team. The Los Angeles Kings activated Jack Johnson from the injured-reserve list after the defenseman missed 41 games because of a shoulder injury. Pro basketball Darius Miles' appearance Friday night with the Memphis Grizzlies was a costly one for the Portland Trail Blazers, his former team.
SPORTS
January 10, 2009 | Daily News Wire Services
LeBron James insisted facing the NBA champions in January was no ordinary regular-season game. He and his teammates proved it. James scored 38 points, harassed Paul Pierce all over the floor, and strengthened his case to be the league's MVP front-runner as the Cleveland Cavaliers improved to 19-0 at home by beating the staggering Boston Celtics, 98-83, last night in a game oozing with postseason intensity. James scored 23 in the second half. He added seven rebounds, six assists, four steals and three blocks.
SPORTS
December 23, 2008 | Daily News Wire Services
The New York Yankees not only failed to make the playoffs, they were hit with their highest luxury tax in 3 years. The Yankees were assessed a $26.9 million tax by the commissioner's office yesterday, up from $23.9 million last year and their biggest bill since paying nearly $34 million for 2005. The Detroit Tigers, who also failed to qualify for the postseason, are the only other team that must pay tax and owe $1.3 million to the commissioner's office. Checks are due by Jan. 31. Both teams got little for what they spent.
SPORTS
September 25, 2007 | By Marc Narducci INQUIRER STAFF WRITER
With the Sixers beginning training camp next week at Duke University, Ed Snider won't be pinned down making predictions. But the Sixers' chairman said he was comfortable with the direction the franchise was headed in, even though the team was likely to be picked by many to finish last in the five-team Atlantic Division. Unlike previous seasons, when the Sixers tried to find players who would fit into Allen Iverson's style of play, the Sixers, according to Snider, aren't going for any quick fixes this time.
SPORTS
July 11, 2007 | By Marc Narducci INQUIRER STAFF WRITER
The NBA's salary cap for the 2007-08 season was announced yesterday at $55.630 million, while the luxury tax has been set at $67.865 million. Teams that exceed the luxury tax level will have to pay a dollar for every dollar over that amount. For the 76ers, it is a workable figure. The Sixers would like to stay near or below the luxury tax level. Two years ago, teams were given the chance for a one-time amnesty rule in which they still would pay a player, but his total wouldn't count on the luxury tax. The Sixers waived Aaron McKie, who was owed $19.5 million over the final three years of his contract.
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