3 ms·
I don't know if that interest rate was specific. But there is a family in Missouri that receives a couple of percent of the NBA's television deal revenues annu
by glompers 4y ago
I don't know if that interest rate was specific. But there is a family in Missouri that receives a couple of percent of the NBA's television deal revenues annually to this day despite never owning a basketball team that played an NBA game.
https://en.m.wikipedia.org/wiki/1975–76_Spirits_of_St._Louis_season#Legacy_and_aftermath https://en.m.wikipedia.org/wiki/1975–76_Spirits_of_St._Louis...
> The Spirits were not included in the ABA-NBA merger, but the Silna brothers nonetheless managed to turn it into one of the greatest deals in the history of professional sports. In June 1976 the ABA owners agreed, in return for the Spirits of St. Louis ceasing operations, to pay the St. Louis owners $2.2 million in cash up front in addition to a 1/7 share of the four remaining teams' television revenues in perpetuity. As the NBA's popularity exploded in 1980s and 1990s, the league's television rights were sold to CBS and then NBC, and additional deals were struck with the TNT and TBS cable networks; league television revenue soared into the hundreds of millions of dollars.