After it became apparent that the NBA would only allow four ABA teams to join the NBA, St. Louis owners Ozzie and Dan Silna reached a famous agreement with the other remaining ABA owners. In return for folding their team, the Spirits' owners obtained the right to 1/7 of any future television money received by the surviving ABA teams (Denver, Indiana, New York and San Antonio) -- in perpetuity......In the late 1970's, the NBA's contract with CBS was modest in scope. But as the NBA's popularity exploded in the 1980's and 1990's, the league's television rights were sold to CBS (and then NBC), plus the TNT and TBS cable networks, for hundreds of millions of dollars. Over the past 25 years*, the Silnas have collected approximately $100 million from the NBA, despite the fact that the Spirits never played an NBA game. The Silnas continue to receive checks from the NBA on a yearly basis, representing a 4/7 share of the television money that would normally go to any NBA franchise.
(*Info is from 2000, deal still stands) :huh: