2 Brothers Make $17.7 Million A Year Off 1976 NBA TV Rights Deal

[Rickson9]

When the NBA and ABA merged in 1976, four of the remaining six ABA teams were absorbed by the NBA. The NBA offered the other two teams a $3 million settlement, an amount that was accepted by the owner of the Kentucky Colonels. The owners of the Spirits of St. Louis, brothers Ozzie and Daniel Silna, turned down the offer.

Instead, the Silna brothers negotiated a deal that would pay them one-seventh of the "visual media" rights for each of the other four ABA teams "in perpetuity."

http://www.businessinsider.com/nba-...test-sports-business-deal-of-all-time-2013-11

 

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[harerace]

Luck more then anything. At that time no one knew how big the NBA was going to be or the growth of its broadcast.

 

[Stu_Hefner]

Luck more then anything. At that time no one knew how big the NBA was going to be or the growth of its broadcast.

So did anyone know that Facebook would become something? Or Google? Or Chobani, ect. There's a million examples of companies and products that past the expectation of "how big they would become"

From that logic, nobody should ever roll the dice on any idea. Ever. And, no VC should ever invest in any start-up.

Good for those brothers! What a deal.

 

[harerace]

So did anyone know that Facebook would become something? Or Google? Or Chobani, ect. There's a million examples of companies and products that past the expectation of "how big they would become"

From that logic, nobody should ever roll the dice on any idea. Ever. And, no VC should ever invest in any start-up.

Good for those brothers! What a deal.

What the hell are you talking about? NO, they didnt know it would be big. Google wanted to sell early on. Mark stated he didnt know. I'm glad they rolled the dice and took a chance. I was supporting them

 

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[Regul8or]

Some luck for sure, but they must have known that the NBA would be big because they had just absorbed all of the ABA teams, which increases their market share. Good for them.

 

[Rickson9]

UPDATE:
NBA Will Pay Two Brothers $500 Million To Get Out Of A Crazy Business Deal Made In 1976

Read more: http://www.businessinsider.com/nba-...siness-deal-made-in-1976-2014-1#ixzz2pkpT3SOR

 

[JoeyHenderson]

That is awesome

 

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[oldscool]

I would've told NBA to suck an egg...you're gonna pay me, and, my family forever. We aren't doing a deal, shove the $500 million to you know where, thanks.

 

[oldscool]

I would've told NBA to suck an egg...you're gonna pay me, and, my family for generations forever. They are going to remember our names into perpetuity. We aren't doing a deal, shove the $500 million to you know where, thanks.