Remember the Spirits of St. Louis basketball team? Yeah, neither do I. Yet, according to an article in the LA Times, the long-folded franchise nets more money each season for its former owners than most NBA teams make.
Brothers Ozzie and Dan Silna bought the ABA team in 1974. When the ABA merged with the NBA in 1976, they negotiated a television revenue sharing deal that has paid them about $168 million to date. Currently, they're due to get over $24 million a year for not having a team.
Like the Silnas, I also don't own a basketball team. Where's my $168 million? I've got to get a better lawyer ...
Posted under STL in the News by Brian Marston on Thu., Aug 3, 2006 at 8:54 PM
Full Court: The Untold Stories of the St. Louis Hawks
By Greg Marecek
ISBN: 1-933370-03-3
6 x 9, Hardcover,
232 pages
$24.95
Full Court tells the story of an often-forgotten but remarkable time in St. Louis sports history—the era of the NBA’s St. Louis Hawks.
Just another reminder that you don't get what you deserve, you get what you negotiate.
[Posted by Butler Miller on Fri., Aug 4, 2006 at 2:05 PM]Member of the STL Syndicate
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