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There are several sources online that claim that the Cavaliers lost $40 million dollars for the 2015-2016 NBA season:

The Cavs lost $40 million last season despite winning their first NBA championship, according to an estimate calculated and published Friday by Forbes magazine.

From USA TODAY:

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.

However, my lack of knowledge of several business terms was the limiting factor in understanding if it's a net $40 million in loss for the team, or if there are things I'm overlooking and looking at from the big picture.

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