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Newz Forum: BASKETBALL: ABA deal still costs NBA

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posted on Aug, 2 2006 @ 10:58 AM
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When 4 teams from the old ABA merged with the NBA in 1976, John Y. Brown, owner of the Kentucky Colonels, accepted a $3.3 million buyout. The same deal was offered to the Silna brothers, owners of the St Louis Spirits.
 

They turned it down.

They ended up negotiating a deal for a $3 million lump and 1/7 (over 14%) of the TV revenue from the 4 ABA teams joining the NBA. Forever. That would be the Pacers, Nuggets, Nets, and Spurs.

First year turned out to be $300,000. For the last contract, it turned out to be $15 million.




They are due an even larger jackpot from the NBA's current contract, which began in 2002. That six-year, $4.6 billion deal with ABC/ESPN and TNT could earn them upward of $24 million annually, according to Silna. Without having to dole out salaries or money on stadium leases, the Silnas earn more each season than most NBA teams.

>LINK<


Sweet deal, eh?








[Edited on 2/8/06 by TRD]




posted on Aug, 2 2006 @ 11:36 AM
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I was just reading this the other day. So whoever owns this contract, say after these original owners are dead and gone, will just continue to rake in the green until the NBA finds some way to end the deal. I wonder what they were thinking when they said the deal lasts as long as the NBA does? The only way they can get out of it is to change the league name.



posted on Aug, 2 2006 @ 08:14 PM
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I need to get into something like this. Any of you guys feel like starting up a basketball league?


Oh yeah, I guess you need some extra cash laying around to get there...



posted on Aug, 2 2006 @ 10:17 PM
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I heard about this deal a few years ago. That was some wise choice made by the owner of the Spirits. That reminded me about something I saw in TV about Bill Gates. Back in the late 1970's when he was getting Microsoft started, Xerox wanted him to design software for a PC operating system. Gates got the code from another Seattle company. When Xerox decided to go with that software, Gates knew that he would owe this other company. He gave them an offer of either $50,000 or future percentages of Microsoft's profits. The owner took the $50,000. If he had taken the percentage, he would be a very rich man right now.



posted on Aug, 3 2006 @ 07:24 AM
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Originally posted by Gibbs Baby!!!
I need to get into something like this. Any of you guys feel like starting up a basketball league?


Yeah we could get Isiah Thomas as commissioner. He'll probably be available by next year and that would pretty much guarantee the league would fold. Just need to figure out how to get the payoff.



Originally posted by Giants Fan
The only way they can get out of it is to change the league name.


I don't think changing the league name would matter. And even if it would, this deal only impacts the four original ABA teams. The other NBA temas couldn't care less.

Gates, definitely a better businessman than code writer, that's for sure. Crappy bug-filled virus-attracting bloated overpriced crapware. And he's the wealthiest man on the planet.

The Silna brothers and Gates prove---it's all about the timing. And the ability to seize the opportunity when it presents itself.



posted on Aug, 3 2006 @ 02:01 PM
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[quote=yeahright]
Gates, definitely a better businessman than code writer, that's for sure. Crappy bug-filled virus-attracting bloated overpriced crapware. And he's the wealthiest man on the planet.

That's why I have a Mac--no problems like with a PC.




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