Topic: ‘the greatest sports business deal of all time’

[LadyVirginia]

The NBA is attempting to end its (losing) role in ‘the greatest sports business deal of all time’

The NBA appears to be sick and tired of being on the wrong end of what many call “the greatest sports business deal of all time,” and they’re trying to rectify that. The league is reportedly in negotiations to dissolve a binding deal put together in 1976 by Ozzie and Daniel Silna, former owners of the ABA’s Spirits of St. Louis. Spurned by the NBA after merger talks helped the NBA absorb four former ABA teams, the Silna brothers decided to waive a chance at a massive buyout from the NBA, and struck a deal to receive one-seventh of each of the yearly television revenue of those four former ABA teams in perpetuity.

Those four teams? The undefeated Indiana Pacers, the legendary San Antonio Spurs dynasty, the well-heeled and highly regarded Brooklyn Nets, and the, um, “based in Colorado” Denver Nuggets. All four teams have to watch as a chunk of their TV payoff is lopped off every year, merely as Silva-conspired revenge for not letting the brothers into the NBA nearly four decades ago.

According to ESPN’s Chris Broussard, though, the league has had enough

The flip side is how much these teams make even when that little 7% is taken out. The writer doesn't bother to add that. Poorly writtern articles irk me.  But he does manage to include his opinion in the piece because that's important.

While the Silnas (who routinely turn down interview requests, most recently to the producers behind a fantastic recent ESPN documentary on the Spirits) probably like the idea of sticking it to their former tormenters in perpetuity, and securing years worth of revenue for their families, it also might be time to end the deal within their lifetime. One last massive balloon payment to rub in the NBA’s face.

Or, the Silnas could walk away from the table. They’re not costing themselves anything if they do.

Anyway,I have no sympathy for the owners. A deal's a deal.

[Dan]

Exactly!
And it should stay between the parties unless one breaks the contract....then govt should get involved.

[Libertas]

Pro sports is effectively run as a legal rackateering scheme anyway, so I always get bored with who hosed who in what deal...you sign your name, that's it, tough cookies no matter what, live with it!

[ToddF]

I'm sure the suckers in those cities can just vote themselves higher sales tax rates, to make up for that 7%.

[oldcoastie6468]

Exactly!
And it should stay between the parties unless one breaks the contract....then govt should get involved.

We really don't need the "govt" to get involved in anything else in our lives.

[Libertas]

Exactly!
And it should stay between the parties unless one breaks the contract....then govt should get involved.

We really don't need the "govt" to get involved in anything! else in our lives.

FIFY!