- Oct 9, 1999
- 21,019
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35 years ago, the Silna brothers owned the St. Louis franchise in the American Basketball Association. That was the year that the NBA, tired of the fighting with the ABA over players, proposed a merger. The NBA kept 4 franchises and offered millions to two teams, one of them being the Silna brothers franchise, so they would agree to fold. The Silna brothers didn't take the deal - they insisted on the deal that the ABA owners had agreed upon among themselves, which was that each ABA franchise NOT picked up by the NBA would get 1/7 of the NBA's "visual rights" income that was given to each of the ABA teams which were included in the merger.
Why is that such a big deal? They get that share of the money... forever.
It wasn't much at first, but then Magic, Larry Bird, and MJ came along and the NBA made bigger and bigger TV deals. The current contract pays almost a billion dollars a year to the NBA.
So far, the Silna brothers have raked in over $200 million, with no costs for players, employees or arenas.
Why is that such a big deal? They get that share of the money... forever.
It wasn't much at first, but then Magic, Larry Bird, and MJ came along and the NBA made bigger and bigger TV deals. The current contract pays almost a billion dollars a year to the NBA.
So far, the Silna brothers have raked in over $200 million, with no costs for players, employees or arenas.
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