Forbes reports Cavs lost $40 million last season

The Cavaliers are one of "only a handful" of NBA teams that wound up in the red after last season, and out of those teams, the Cavs lost the most, even though they won the championship. Per Forbes' Kurt Badenhausen:

The reality is that owner Dan Gilbert has spent money at almost an unprecedented level. Last season's $115 million payroll triggered a $54 million luxury tax bill. Add in benefits, cash involved in trades and the team's share for total NBA player costs to reach the mandated 51% of leaguewide revenue and Gilbert spent roughly $185 million last season on his roster.

Gilbert's massive commitment to spend whatever's necessary to win a title led to a loss of $40 million last season by Forbes' count in the sense of earnings before interest, taxes, depreciation and amortization … Their loss was nearly four times greater than any other franchise, despite the windfall from hosting 10 playoff games.

Furthermore, Cleveland.com's Joe Vardon reported that according to one of his sources, that Forbes estimate - that the Cavs lost $40 million last season - is low.

These reports come during the same week that LeBron has made it known that he believes the Cavaliers' roster has room to improve, saying they're "a top-heavy team," in a rant after losing to the Pelicans. Though, he has backed downfrom those comments since then.