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Former ABA franchise terrorizes Spurs, Nets, Nuggets, Pacers
May 29, 2012; San Antonio, TX, USA; San Antonio Spurs owner Peter Holt (center) cheers for his team during the first half in game two of the Western Conference finals of the 2012 NBA playoffs against the Oklahoma City Thunder at the AT
The San Antonio Spurs, Indiana Pacers, Brooklyn Nets and Denver Nuggets are required by law to pay former St. Louis Spirits owners Ozzie and Dan Silna a portion of their television revenue for as long as the NBA exists.
The settlement has netted upwards of $240 million over the last 40 years since the NBA merger.
The Silna brothers revisited the antitrust settlement last year, claiming they have been prevented from receiving their rightful TV revenue from international TV and cable broadcasts.
The NBA contends that the new deal, which has been a source of contention for awhile, ascertains that they can’t receive revenue aside from network broadcasts. This is a significant issue because if the Silna brothers win the case, they would likely earn money from NBA League Pass, which broadcasts out-of-market games for every NBA fan.
Judge Loretta Preska will preside over the case and has yet to make a decision.
In the meantime, the Silna brothers will sit on their laurels comfortably and, at the very least, they made an astute decision to fully exploit their insignificant ABA franchise’s value into an immense amount of money.