Wednesday, August 2, 2006

The TV Deal the NBA Wishes It Had Not Made

I love capitalism!  30 years ago, two brothers owned an ABA basketball team and forged a deal for a small percentage of the TV revenues from 4 new teams entering the NBA from the ABA.  Their attorney did them a "solid" by writing this into the contract:

"The right to receive such revenues shall continue for as long as the NBA or its successors continues in its existence."

Yeah, since 1976 their team has folded and the NBA must still pay these guys.  This year alone, their cut could be $24,000,000.  For.Doing.Nothing .

Good job, boys!,0,917243.story

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