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Douchebag
 Post subject: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:22 am 
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I've never read about this, but this might be the greatest deal made in the history of sports. Why would they ever want to renegotiate? I would just collect these checks forever.

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Sources: NBA, Silnas negotiate

The NBA is engaged in settlement talks with Ozzie and Daniel Silna to end a contract that has long been described as "the greatest sports business deal of all time," according to sources close to the situation.

No agreement has been reached, but talks are ongoing.

The Silna brothers are the former owners of an old ABA franchise known as the Spirits of St. Louis. When the ABA merged with the NBA in 1976, the Silnas agreed to dissolve their team in exchange for a small percentage of the NBA's future broadcast revenue.

At the time, it seemed like an irrelevant concession by the league. But it's become a financial windfall for the Silnas. They receive 1/7 of the television revenues of the four ABA teams that were absorbed: the Spurs, Nuggets, Nets and Pacers. The NBA currently has $7.4 billion in TV contracts with ABC/ESPN and TNT.

The kicker in the Silnas' deal is that it goes on in perpetuity.

Last season, the Silnas, who bought the Carolina Cougars for $1 million in 1973 before moving the club to St. Louis, received a reported $19 million from the NBA.

Since the deal was reached in 1976, the league has paid the Silnas $300 million in TV royalties. Recently, a judge ruled that the brothers also have rights to Internet revenue.

Because the Silnas' cut diminishes the dividends of the NBA's 30 team owners, the league has long sought to settle the contract

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rogers park bryan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:23 am 
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That's awesome.
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Big Chicagoan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:25 am 
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I would take nothing less than $1B.
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Hawg Ass
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:30 am 
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Wow, that is crazy and I can't believe it hasn't ever been discussed more. No way in hell if I am them am I ever settling for anything.

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Peoria Matt
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:32 am 
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Wow. What a great piece of negotiating right there.

And I'd tell the league to just keep sending the checks.
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rogers park bryan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:32 am 
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I would probably keep negotiating for kicks.


Ask for 40 Billion and the league to chance it's logo to The Silna brothers likeness
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Tad Queasy
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 10:52 am 
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I *highly* recommend Loose Balls: The Short, Wild Life of the American Basketball Association by Terry Pluto. There were a few players who had similarly structured contracts and were collecting paychecks long after their playing days were over.

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JORR
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 11:49 am 
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They're negotiating because the NBA is trying to fuck them out of revenue. There is also the matter of whether Internet broadcast money should be included.

When those guys made that deal, it seemed idiotic. It wasn't really some stroke of genius. They were disappointed that the NBA wasn't taking on the Spirits and they really just thought by doing it this way rather than accepting the a buyout the way the other ABA franchises that weren't absorbed did, they would have their foot in the door for an NBA franchise which is what they really wanted.

I'm sure some of you must have seen the 30 for 30 on the Spirits. It's mostly about Marvin Barnes but they cover this and a lot of other ABA stuff too.

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Furious Styles
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 11:51 am 
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ESPN did a piece on this many years ago. Great story.

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redskingreg
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 11:53 am 
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Hawg Ass wrote:
Wow, that is crazy and I can't believe it hasn't ever been discussed more. No way in hell if I am them am I ever settling for anything.


I remember reading it on Deadspin a couple years ago. I believe it was in the comments section of the Bobby Bonilla article about how the Mets are still paying him.

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Douchebag
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 11:55 am 
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Joe Orr Road Rod wrote:
They're negotiating because the NBA is trying to fuck them out of revenue.

Well right. I get why the NBA wants to re-negotiate, but why should the Silna family? What could the NBA possibly offer to them that would be better than the deal they have right now?

Joe Orr Road Rod wrote:
There is also the matter of whether Internet broadcast money should be included.

It seems like a recent ruling by a judge says they do. I'm sure the NBA will be appealing that judgement.

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JORR
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 11:59 am 
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Douchebag wrote:
Well right. I get why the NBA wants to re-negotiate, but why should the Silna family? What could the NBA possibly offer to them that would be better than the deal they have right now?


I don't necessarily think they want to renegotiate. I think they're suing the NBA because of the way the NBA is using accounting to keep the payments down. From the Silnas perspective, I would guess a "renegotiation" would entail a more strict way of figuring their cut of the TV money which until now, seems to have been at the whim of the NBA.

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Curious Hair
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 12:31 pm 
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Their cut of the TV money is supposed to be set. It's one-seventh of the TV money from the Pacers, Nuggets, Nets, and Spurs, or 4/210 of the annual TV money.

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good dolphin
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 12:53 pm 
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Is there any reason to think there take will grow exponentially in the not to distant future with NBA expansion beyond the US

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NearWessSideHussra
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 1:04 pm 
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rogers park bryan wrote:
I would probably keep negotiating for kicks.


Ask for 40 Billion and the league to chance it's logo to The Silna brothers likeness


:D

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ask for David Stern and/or his successors to wax and detail their two dozen cars once a year in perpetuity and then caddy for em the same weekend. See if they bite.

these guys have no reason to negotiate. they have the resources to hire their own lawyers to keep the NBA money train rolling.
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JORR
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 1:53 pm 
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Curious Hair wrote:
Their cut of the TV money is supposed to be set. It's one-seventh of the TV money from the Pacers, Nuggets, Nets, and Spurs, or 4/210 of the annual TV money.


I think the issue has to do with what the NBA is considering TV money. At the end of the 30 for 30 episode, it said that because of ongoing litigation over the payments the Silnas declined to discuss the matter.

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Elmhurst Steve
 Post subject: Re: The Silna Brothers
PostPosted: Tue Nov 12, 2013 2:13 pm 
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Hawg Ass wrote:
Wow, that is crazy and I can't believe it hasn't ever been discussed more. No way in hell if I am them am I ever settling for anything.


It's a perfect situation. No overhead, no work of any kind to do. Yet you rake it in, with no end in sight. It's a beautiful thing.

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Big Chicagoan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 3:41 pm 
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Brothers get $500M from NBA to get out of deal.

http://finance.yahoo.com/news/nba-pay-two-brothers-500-165704100.html
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Douchebag
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 3:44 pm 
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Big Chicagoan wrote:
Brothers get $500M from NBA to get out of deal.

http://finance.yahoo.com/news/nba-pay-two-brothers-500-165704100.html

I'm not sure why they would have ever taken a buyout. They would have surpassed that $500M figure in about another 25 years, and their families would reap the benefits for the rest of their lifetimes, and children's lifetimes. Why sell out?

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Frank Coztansa
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 3:48 pm 
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Douchebag wrote:
Joe Orr Road Rod wrote:
They're negotiating because the NBA is trying to fuck them out of revenue.

Well right. I get why the NBA wants to re-negotiate, but why should the Silna family? What could the NBA possibly offer to them that would be better than the deal they have right now?
bigfan would offer them 8 years and $60million

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Big Chicagoan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 3:53 pm 
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Douchebag wrote:
Big Chicagoan wrote:
Brothers get $500M from NBA to get out of deal.

http://finance.yahoo.com/news/nba-pay-two-brothers-500-165704100.html

I'm not sure why they would have ever taken a buyout. They would have surpassed that $500M figure in about another 25 years, and their families would reap the benefits for the rest of their lifetimes, and children's lifetimes. Why sell out?


$500M now should be worth much, much, much more than that in 25 years thanks to the wonders of compound interest and the stock market.

Add that to the $300M they already have received, and their families should be fine for a while.
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Douchebag
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 3:55 pm 
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Big Chicagoan wrote:
Douchebag wrote:
Big Chicagoan wrote:
Brothers get $500M from NBA to get out of deal.

http://finance.yahoo.com/news/nba-pay-two-brothers-500-165704100.html

I'm not sure why they would have ever taken a buyout. They would have surpassed that $500M figure in about another 25 years, and their families would reap the benefits for the rest of their lifetimes, and children's lifetimes. Why sell out?


$500M now should be worth much, much, much more than that in 25 years thanks to the wonders of compound interest and the stock market.

Add that to the $300M they already have received, and their families should be fine for a while.

Good point.

Still though, when you are getting a large sum of money every year, which will never end as long as the league is in existence, I don't see why someone would ever give that up.

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KDdidit
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 4:21 pm 
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Same reason people take lottery lump sums?
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Dr. Kenneth Noisewater
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 4:27 pm 
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KDdidit wrote:
Same reason people take lottery lump sums?


But those end.

I get what Douchebag is thinking. But, my thought would be that it is such a large sum that you take away all future risk to the league or any legal proceeding that may not go your way into the future. You never know.

Plus, they STILL have an ongoing piece! :lol: That I didn't get. The NBA has a future buyout of that but why not just buy them out now and be done with this?

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badrogue17
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 4:28 pm 
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People who take lottery lump sums aren't generally multi millionaires already . To each his own and it's their money so when someone waves 500 mildo at you I'm sure it's hard to say no but I'd've loved to see this ass fucking of Dave Stern go on till he dropped and the next 10 after him

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Big Chicagoan
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 7:28 pm 
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I think Bobby Bonilla is still getting paid by the Mets.
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conns7901
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 8:13 pm 
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One they die the payments stop correct? If so, being 69 and 80, Chances are they don't live another 25 years.

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conns7901
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 8:21 pm 
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http://www.celebritynetworth.com/articl ... -contract/

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Not over yet.
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badrogue17
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 8:29 pm 
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conns7901 wrote:
http://www.celebritynetworth.com/articles/entertainment-articles/bobby-bonilla-baseball-contract/

Thats getting it done right there. Guess even Really.Smart.Nuts. get taken for a ride sometimes.

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Douchebag
 Post subject: Re: The Silna Brothers
PostPosted: Tue Jan 07, 2014 9:07 pm 
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conns7901 wrote:
One they die the payments stop correct? If so, being 69 and 80, Chances are they don't live another 25 years.

If that is true, then why would the league ever agree to pay them $500 million? I'm pretty sure these payments would go on for as long as the league exists.

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Last edited by Douchebag on Tue Jan 07, 2014 9:11 pm, edited 1 time in total.

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