Roughly once a month, the NBA cuts 31 checks to NBA teams as revenue from its multibillion-dollar national television contract.
There are only 30 NBA franchises, so who gets the extra check?
Thirty years ago, Ozzie Silna, with attorney Donald Schupak, negotiated a deal that cleared the way for the ABA to merge with the NBA. It ranks as one of the best sports deals in modern times, one that has paid the Silnas about $168 million and continues to pay off.
"I would have loved to have an NBA team," said Ozzie Silna, 73, a Malibu resident and environmental activist. "But if I look at it retrospectively over what I would have gotten, versus what I've received now, then I'm a happy camper."
So if I understand it correctly, the current TV contract will give them $144 million out of the $4.6 billion TV contract. That's about 3% of TV revenues. That money comes out of the TV revenues of the Denver Nuggets, Indiana Pacers, New Jersey Nets, and San Antonio Spurs. So instead of getting $25.5 million per year, they get $19.5 million per year instead.
I say good for them. Why should they have taken a lump sum when the ABA teams going to the NBA were going to start receiving TV revenue money? The lawyers probably should have put a limit on the length of said payments, but it's their mistake that they didn't.
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