$800 Million Later, NBA Gets Out Of The Bad End Of ‘Greatest Sports Deal Of All Time’
January 8, 2014 - 9:34 pm
A deal long viewed as one of the greatest in broadcast rights history may be coming to an end.
The Silnas brothers and the NBA are nearing a deal that would end a deal giving the Silnas one-seventh of the national television revenue of the league, the New York Times reported.
The NBA made the deal with the Silnas brothers in 1976 as part of a package to merge the ABA and NBA. The Silnas owned the Spirits of St. Louis, which was one of the two ABA teams excluded from the deal. The NBA paid the owners of the other team, the Kentucky Colonels, $3 million to fold.
The Silnas brothers have already made around $300 million for being better negotiators and now the league is willing to pay them $500 million to go away.
When I first heard about this deal awhile ago I remember thinking, “That’s it, I’m buying the kid every good deal-making/negotiation book I can find.”
That’s got to be cheaper and more effective than college, right?