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These two guys are still making millions of dollars from the ABA merger

  • $500M the amount two former American Basketball Association owners, Ozzie and Daniel Silna, stand to make from a deal with the the National Basketball Association to end an agreement with the league that dates back to the 1970s. At the time, the two businessmen owned the Spirits of St. Louis, a team that was not brought into the NBA post-merger. The men made an agreement to fold—as long as they got one-seventh of the TV rights from the four ABA teams merging into the NBA. Since then, the NBA has become a major sport—and the duo have made $300 million from the deal, with no end date in sight. They could turn down the NBA and continue to make millions each year—and even with the big upfront payment, they still stand to make more revenue from the league. source
January 7, 2014 // 9:16 // 3 months ago
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34 notes from really cool Tumblrs like ours. Click to read.

  1. wingtipsandloafers reblogged this from shortformblog and added:
    It’s just business…
  2. jaman150 reblogged this from shortformblog
  3. radicalrevolution reblogged this from shortformblog
  4. kyriarchy reblogged this from shortformblog
  5. the-bigchief80 reblogged this from shortformblog
  6. darryljbarrios reblogged this from shortformblog and added:
    Interesting…As I am not a huge fan of pro basketball I was not aware of this….
  7. profoundmercenary reblogged this from laughterkey
  8. afrobohosnob reblogged this from shortformblog
  9. laughterkey reblogged this from shortformblog
  10. kohenari said: Did you see the ESPN 30 for 30 film about the Spirits? The film basically ended with a brief discussion of this amazing deal.
  11. dancer2thou reblogged this from shortformblog
  12. upsettingshorts reblogged this from shortformblog and added:
    Arguably one of the most legendary business deals of all time.
  13. shortformblog posted this