The Silna brothers made $800 million from the NBA by agreeing to make the Spirits of St. Louis of the ABA disappear. The Silna brothers pocketed $300 million over a span of nearly four decades and then cashed out for an additional half a billion when exasperated NBA owners finally gave up.

How much money did the Silna brothers make?

The Silna brothers made $800 million from the NBA by agreeing to make the Spirits of St. Louis of the ABA disappear. The Silna brothers pocketed $300 million over a span of nearly four decades and then cashed out for an additional half a billion when exasperated NBA owners finally gave up.

Why did the Silna brothers make so much money from the NBA?

With more profitable broadcasting contracts set to be renegotiated, the NBA finally decided to settle their endless obligation with the Silna brothers. In 2014, the two brothers walked away with a $500 million buyout, bringing their overall take to $800 million (Source).

Who owns the ABA?

Ozzie and Daniel Silna
And that’s what American Basketball Association (ABA) owners Ozzie and Daniel Silna did in 1976 — which turned their initial $1 million investment into approximately $800 million. If you aren’t familiar, the ABA was founded in 1967 as a rival league to the NBA.

Where are the Silna brothers from?

Early Life Of The Silna Brothers Ozzie and Daniel Silna were born in 1933 and 1944, respectively, to a pair of Latvian immigrants who had settled in New Jersey in the 1930s. Their father ran a small textile business which both brothers took over until the company was sold in the early 1960s.

What deal did the Silna brothers decline?

Oh, and by the way, in 1982 the NBA offered to buy the brothers out of their contract for $5 million paid over 5 years. The Silna’s rejected that offer and countered with $8 million over 8 years.

Was the ABA Real?

The American Basketball Association (ABA) was a major men’s professional basketball league from 1967 to 1976.

What is the greatest sports deal of all time?

Here’s what’s known: Thirty-five years ago this June two brothers, Ozzie and Daniel Silna, along with their lawyer, Donald Schupak, negotiated what’s been called the greatest sports deal of all time. On an initial investment of $1 million, the Silnas have reaped an estimated $237 million.

Was Jackie Moon a real person?

The soundtrack for the film was released on February 26, 2008 and featured songs by LaBelle, WAR, Curtis Mayfield, Will Ferrell, among others. “Love Me Sexy” is sung by the fictional Jackie Moon (played by Will Ferrell).

Do ABA players get paid?

Salaries. The ABA imposes a salary cap of $120,000 and players are often paid $30-$50 per game. Some teams, like the Richmond Elite, pay their players more – offering them as much as $300 per game.

How much did ABA players make?

Salaries. The ABA imposes a salary cap of $120,000 and players are often paid $30-$50 per game. Some teams, like the Richmond Elite, pay their players more – offering them as much as $300 per game. There has been some criticism hovering around the fact that most players are not paid salaries for playing a game.

Has St Louis ever had a NBA team?

Louis was home to two National Basketball Association (NBA) teams, the St. Louis Bombers (1949–50) and the St. Louis Hawks (1955–1968), who won the NBA Title in 1958, and also to the American Basketball Association (ABA)’s Spirits of St. Louis (1974–76), before the ABA–NBA merger.

Was semi pro Based on a true story?

Although Armstrong made a concerted effort to infuse the script with authenticity, everything about the Flint Tropics of Michigan is fictional. Nevertheless, the Tropics are similar in spirit and game attendance to many of the teams that made up the ABA.

How much money does the NBA make from TV contracts?

The NBA’s annual revenue from the agreements will increase from $930 million to more than $2.6 billion, according to a person familiar with the terms. The person spoke on condition of anonymity to The Associated Press because the league did not announce financial figures.

How much money does the NBA make from ESPN and TNT?

The league renewed its deals with ESPN and TNT even though two seasons remain on the old ones. The NBA’s annual revenue from the agreements will increase from $930 million to more than $2.6 billion. Remember when Rogers paid $5.2 billion for NHL rights in 2013?

What does the new $24 billion deal with ESPN mean for NBA?

The NBA announced on Monday that it had struck a nine-year, $24 billion media-rights deal with ESPN and Turner Sports. This isn’t just any TV deal. This one will have far-reaching effects on everything from how teams are put together to how you consume professional basketball.

How much did ESPN pay for the new contract?

Under the current deal, which was signed in 2007, ESPN and Turner paid the $930 million annually, so the new deal represents a 180 percent increase in the amount of money flowing into the league’s coffers. By comparison, when the $930 million deal was signed in 2007, it represented only a 21 percent increase from the previous one.