The End of the ABA
The American Basketball Association, that is. The NBA has finally negotiated a buyout of their crazy contract with the Silna brothers (which I’ve posted about before) that gave these former owners of the St. Louis Spirits a share of the league’s TV revenue in perpetuity. How much will the buyout cost? At least $500 million (on top of the money the NBA has shelled out since 1976).
Read those contracts carefully folks.