Tuesday, November 12th, 2013 at 12:45 pm  |  8 responses

NBA Still Trying to End Crazy TV Deal With Former ABA Team Owners

If you’re not familiar with the wildly lucrative TV deal Ozzie and Daniel Silna, owners of the ABA franchise known as the Spirits of St. Louis, struck with the NBA in 1976, you should bone up on the insane tale. The League is once again trying to wiggle itself out of the deal. Per ESPN: “When the ABA merged with the NBA in 1976, the Silnas agreed to dissolve their team in exchange for a small percentage of the NBA’s future broadcast revenue. At the time, it seemed like an irrelevant concession by the league. But it’s become a financial windfall for the Silnas. They receive 1/7 of the television revenues of the four ABA teams that were absorbed: the Spurs, Nuggets, Nets and Pacers. The NBA currently has $7.4 billion in TV contracts with ABC/ESPN and TNT. The kicker in the Silnas’ deal is that it goes on in perpetuity. Last season, the Silnas, who bought the Carolina Cougars for $1 million in 1973 before moving the club to St. Louis, received a reported $19 million from the NBA. Since the deal was reached in 1976, the league has paid the Silnas $300 million in TV royalties. Recently, a judge ruled that the brothers also have rights to Internet revenue. Because the Silnas’ cut diminishes the dividends of the NBA’s 30 team owners, the league has long sought to settle the contract.”

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  • Above_You

    The Silnas would be fools to settle in any way.

  • LLC#12

    That is some foresight/luck by the Silnas’ to nab this deal. They’re never letting go of that! What happens when they die? The kids get royalties?

  • spit hot fiyah

    good luck with that settlement. the silnas and their family tree are set. if i’m not mistaken david stern worked for the nba then and was involved in making this deal.

  • spit hot fiyah

    “The kicker in the Silnas’ deal is that it goes on in perpetuity.” i guess so since the deal keep going for ever.

  • Feez_22

    Perpetuity? LOL at the NBA

    Hmm… Time to marry into this family. Where is this family based? LOL

  • Cortez Mack

    I love it!

    What on earth could possibly convince them to settle this contract? In fact, there is nothing to “settle” in the first place. The contract is being honored as agreed upon by both parties.

    Good for them.

  • jackie moon

    “dissolved” what does that even mean,is that a real word?

  • Fafafoohi

    Whoever agreed to that had NO faith in the future of the league.