Brothers Ozzie and Dan Silna, co-owners of the long-forgotten ABA team, the Spirits of St. Louis make $24 million a year and haven't had a team in 30 years.
---
Roughly once a month, the NBA cuts 31 checks to NBA teams as revenue from its multibillion-dollar national television contract.
There are only 30 NBA franchises, so who gets the extra check?
The money goes to brothers Ozzie and Dan Silna, co-owners of the long-forgotten ABA team, the Spirits of St. Louis.
Thirty years ago, Ozzie Silna, with attorney Donald Schupak, negotiated a deal that cleared the way for the ABA to merge with the NBA. It ranks as one of the best sports deals in modern times, one that has paid the Silnas about $168 million and continues to pay off.
(full story)
Subscribe to:
Post Comments (Atom)
2 comments:
So let me get this straight. They're earning millions on top of millions on top of millions in revenue from the NBA- because they owned an ABA team that's been defunct for over 30 years?
Not too shabby. That's better than most people's pensions.
and to think the nba could have settled this for $40mn -- over 5 years -- back in the day...
Post a Comment