Greatest financial deal in all of sports

Post Reply
User avatar
beagleboy
President of the AnalHamster fan club
Posts: 899
Joined: Mon Jan 07, 2019 4:23 pm

Greatest financial deal in all of sports

#1

Post by beagleboy » Thu Mar 28, 2019 3:43 pm

https://www.forbes.com/sites/monteburke ... e8e8554f0b


Two brothers owned the St Louis Spirits when the ABA merged with the NBA. They were offered $3 million to fold their franchise or 1/7th share of each of the 4 ABA teams who became NBA franchises.

They sold their initial players for over $2 million to the other NBA franchises. So they really were only offered $800k for the buyout they refused.

The accumulated TV payout since the 70's was over $300 million. They did absolutely nothing to earn that money.

A few years ago those old ABA teams finally bought them out for roughly $500.

The kicker is that two other franchises could have had the exact same deal. One voluntarily folded earning them nothing and the other took the $3 million.

User avatar
B-Tender
Needs to step away from the keyboard.
Posts: 637
Joined: Sun Jan 06, 2019 9:48 pm

Re: Greatest financial deal in all of sports

#2

Post by B-Tender » Thu Mar 28, 2019 8:26 pm

I thought this was going to be about Bobby Bonilla's contract.

User avatar
Wut
Denmarkian Citizen
Posts: 1240
Joined: Sun Jan 06, 2019 8:11 pm
Location: Beernuda

Re: Greatest financial deal in all of sports

#3

Post by Wut » Thu Mar 28, 2019 9:14 pm

Bonilla got some good advice.

Post Reply