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Thread: Former A.B.A. Owners Earn Millions From N.B.A

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    Default Former A.B.A. Owners Earn Millions From N.B.A

    No Team, No Ticket Sales, but Plenty of Cash- NY Times article

    It's a very slow time of year NBA news wise so I thought some may find it of interest that two brothers that owned the defunct ABA franchise Spirits of St. Louis have a very lucrative deal with the NBA involving television revenues that has netted Silna brothers over 250 million and counting over the years.

    Now they are suing the NBA for a share of revenues from global television deals and internet broadcasting.

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    Super Moderator Joey's Avatar
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    WOW ... Kinda makes you mad doesn't it?? Haha
    In Masai we Trust.

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    The crazy thing about this deal is that it continues as long as the NBA exists. What a cash cow!

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    Super Moderator Joey's Avatar
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    Quote stretch wrote: View Post
    The crazy thing about this deal is that it continues as long as the NBA exists. What a cash cow!
    Ya ... thats pretty rough. At least for Indy, NJ, Denver and SA.
    They've probably made more off of NOT owning a team, than most owners have made from owning one!
    In Masai we Trust.

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    Quote joey_hesketh wrote: View Post
    WOW ... Kinda makes you mad doesn't it?? Haha
    Why? It makes me smile.

    Big Corporation (NBA) threw a bone to the former St Louis team owners. Big Corporation discussed offering but did not offer a one-time payment to terminate the agreement when maybe said offer would have been accepted.

    Bone grew and grew and the little piece is still relatively small, but big in absolute terms.

    Big Corporation is upset because they never predicted the bone to grow so big and never intended the former owners to have such a big meal.

    Former Owners say "wait a minute, that other bone was part of the meal plan! Give me my share! Gimme! Gimme!" and it looks like they may be right.

    Read the fine prints; that's what we've always been told before entering a legal agreement. It looks to me the NBA failed to proof-read the contract they wrote.

    I have no sympathy for an organization which is willing to sign a contract who will last as long as the organization is in existence.

    Just like I had no sympathy for a certain movie studio for the contract they gave Robert Downey Jr.

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