After 45 years and $800 million in payments, the deal was concluded. In case you were wondering, yes the brothers playe. Polyester was the fabric of choice for the fashion of disco dancers. 12/ in total, the silna brothers amassed an $800 million fortune by making a failed franchise disappear. As disco fever swept the nation in the 1970s, the siln. The aba was founded in 1967 as an attempt to chip away at the nba s monopoly on professional basketball. There were no other nba teams up for sale and it didnt look like any would hit. And it looks like, with an upfront payment of a cool $500 million or so, the nba will finally get its wish. To make the silnas happy and get them to go away, some long-forgotten nba executive hatched an idea that the league assumed would be a meaningless concession. Their father ran a small textile business which both brothers took over and ran for two years until the company was sold in the early 1960s. In the early-1970s, the aba posed a significant challenge to the nba s dominance. The league kept at it, but as the royalties grew so did the cost of buying the silnas off. In 1974 the silnas attempted to purchase the detroit pistons from the teams founder fred zollner. In their very first season the spirits of st. In 1982 the nba offered to buy the brothers out of their contract for $5 million paid over five years. Every time a new deal was stuck, the silna. The silnas offered $4. 85 million, which is the same as $30 million in todays dollars. The first mega contract that the nba struck happened in 1997 when nbc and turner agreed to pay $2. 7 billion to broadcast games. But wait, it gets better… because the language in their original contract covered all visual media revenues, in 2012 the silnas took the nba to court over money earned from sources that were unimaginable back in 1976. In the early 1970s ozzie and daniel launched their own knitting business. Amazingly, a federal judge sided with the bro. In the 1970s, nba television viewership was barely a blip on the ratings radar. Their negotiation skills from over proved to be their golden ticket. Five years later, abc/espn/tnt agreed to pay a combined $4. 6 billion. · during the negotiations for the aba- nba merger, the silnas made a crucial deal. · the nba has long wanted to somehow end the silnas sweet deal. For example, international broadcasts, internet rights and the nba tv cable network. Unfortunately, that was the high point for the spirits. A year later, in 1976, the american basketball association went belly up. · in 2014, the nba decided that they were done sharing money with the silnas brothers , which was why they offered to buy out their contract for $500 million. The nba declined! Their timing could not have been more perfect. The brothers accepted the deal in april 2014. Will the nba finally end the silnas sweet deal? The silna brothers would take $2 million upfront in cash, and they would also receive part of the yearly tv broadcast revenue the nba would receive. Ozzie silnadied in 2016 at the. They agreed to dissolve their team in exchange for a share of future tv broadcast revenues from the four aba. Even nba championship series were shown on tape delay after the 11pm news. The silnas brothers agreed, so they received $500 million on top of the $300 million they had made since 1976. They actually defeated the aba defending champion new york nets before losing to the eventual winning team, the kentucky colonels. · so, the silna brothers negotiated with the nba and settled for what would be the greatest deal in nba history. See full list on celebritynetworth. com How much money did the silna brothers make in 1976? How much money did the silna brothers make from the nba? Ozzie and daniel silna were born in 1933 and 1944, respectively, to a pair of latvian immigrants who settled in new jersey, by way of palestine, in the 1930s. Along the way, the brothers used one lawyer. · the silna brothers made $800 million from the nba by agreeing to make the spirits of st. The brothers grew this knitting business into one of the largest manufacturers of polyester in the world. Zollner rejected their offer and ultimately accepted $7 million from another party. You might assume the aba was a joke, especially if youre imagining the universe portrayed by will ferrells2008 movie semi-pro, but that assumption is false. That lawyer, donald schupak, received 10% of all their revenue. So that one deal , which donald negotiated , translated into an $80 million royalty. As part of a disma. In 2007, abc/espn/tnt signed that eight-year $7. 4 billion that we mentioned at the beginning of this article. Games were barely aired. The nba made a number of attempts to buy their way out of the deal over the years. How much money did the silnas make? Louis of the aba disappear. The silna countered with $8 million over eight years. Louis made the playoffs. The silna brothers pocketed $300 million over a span of nearly four decades and then cashed out for an additional half a billion when exasperated nba owners finally gave up.
