The Cleveland Cavaliers had an operating loss of $40 million during the 15-16 season, according to a Forbes report.

The Cavaliers had a payroll of $115 million with a luxury tax bill of $54 million. In addition to benefits, cash involved in trades and the team’s share for total NBA player costs to reach the mandated 51% of leaguewide revenue and the Cavaliers spent roughly $185 million last season on their roster.

Despite the NBA's influx of national television money this season, the Cavaliers are likely headed for another huge operating loss.

All NBA team values are up dramatically thanks to the league's $24 billion TV deal signed in 2014, but the Cavaliers' jump has outpaced the league by 18%. Forbes valued the team No. 19 in the NBA at $515 million before the return of LeBron James and $1.1 billion last year, 12th highest in the league. 

The operating loss by the Cavaliers last season is the fifth biggest since Forbes began tracking NBA team finances with the 1997-98 season.

Dan Gilbert is worth $5.1 billion and Quicken Loans Arena is also receiving a subsidy from taxpayers to pay for half of the $140 million renovation.

The Forbes report follows a week in which James and Gilbert are at odds over the spending on the Cavs' payroll.