How much money did the Silna brothers make?
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?
Brothers Ozzie and Daniel Silna made a fortune as pioneers in the manufacture of polyester. After an attempt to buy the Detroit Pistons fell short, the Silnas purchased the ABA’s Carolina Cougars franchise with the expectation of moving it into the NBA with the impending merger of the two leagues.
What deal did the Silna brothers decline?
Along with his surviving younger brother, Daniel, Silna negotiated a share of the NBA’s television rights for perpetuity, as a payoff for the league declining to fold his ABA squad, the St. Louis Spirits, in 1976.
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.
Who owns the rights to the ABA?
Article continues after video. 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. (My dad took me to see Dr.
What is the greatest sports deal of all time?
In 1974, two brothers made an investment that will turn out to be the greatest sports deal of all time. Donnie Walsh, the former Pacers and Knicks President of Basketball Operations, went so far as to call it “the greatest deal known to man.”
Who owns NBA rights?
Turner Sports
NBA TV
| Programming | |
|---|---|
| Owner | National Basketball Association (operated by Turner Sports WarnerMedia News & Sports) |
| History | |
| Launched | March 17, 1999 |
| Former names | NBA.com TV (1999–2003) |
Is NBA better than ABA?
Overall, the ABA won more of these interleague games than the NBA did, and in every matchup of reigning champions from the two leagues, the ABA champion won, including in the final pre-merger season when the Kentucky Colonels defeated the Golden State Warriors.
