PanchoYoSancho
New member
Jimmy Johnson getting all those picks from Minny for Herschel Walker. Built a dynasty.
From 2014
When the NBA and ABA merged in 1976 four teams came in the league — the Nets, Pacers, Spurs and Nuggets — while the Spirits of St. Louis were left out (sort of like the Flint Michigan Tropics). The owners of the Spirit, Ozzie and Daniel Silna, wanted some compensation for missing out and they worked out a deal with the league to get one-seventh of the national television revenue that each of the four teams coming in was to get — in perpetuity. Forever.
Back in 1976 the sum was laughably small, but in the years since the NBA’s broadcast rights exploded and the Silnas got a piece of it every year, an estimated $300 million in the nearly 40 years since the merger. As you might imagine, the NBA has tried to get out from that agreement but to no avail, in fact a judge recently ruled that the Silnas should get a slice of international and league pass broadband rights, too.
However, finally the two sides have worked out a buyout, reports the New York Times.
On Tuesday, the Silnas, the league and the four former A.B.A. teams will announce a conditional deal that will end the Silnas’ golden annuity. Almost.
The Silnas are to receive a $500 million upfront payment, financed through a private placement of notes by JPMorgan Chase and Merrill Lynch, according to three people with direct knowledge of the agreement. The deal would end the enormous perpetual payments and settle a lawsuit filed in federal court by the Silnas that demanded additional compensation from sources of television revenue that did not exist in 1976, including NBA TV, foreign broadcasting of games and League Pass, the service that lets fans watch out-of-market games.
Still, the league is not getting rid of the Silnas altogether. They will continue to get some television revenue, some of it from the disputed sources named in their lawsuit, through a new partnership that is to be formed with the Nets, the Pacers, the Nuggets and the Spurs, according to the people with knowledge of the agreement. But at some point, the Silnas can be bought out of their interest in the partnership.
When the NBA and ABA merged in 1976 four teams came in the league — the Nets, Pacers, Spurs and Nuggets — while the Spirits of St. Louis were left out (sort of like the Flint Michigan Tropics). The owners of the Spirit, Ozzie and Daniel Silna, wanted some compensation for missing out and they worked out a deal with the league to get one-seventh of the national television revenue that each of the four teams coming in was to get — in perpetuity. Forever.
Back in 1976 the sum was laughably small, but in the years since the NBA’s broadcast rights exploded and the Silnas got a piece of it every year, an estimated $300 million in the nearly 40 years since the merger. As you might imagine, the NBA has tried to get out from that agreement but to no avail, in fact a judge recently ruled that the Silnas should get a slice of international and league pass broadband rights, too.
However, finally the two sides have worked out a buyout, reports the New York Times.
On Tuesday, the Silnas, the league and the four former A.B.A. teams will announce a conditional deal that will end the Silnas’ golden annuity. Almost.
The Silnas are to receive a $500 million upfront payment, financed through a private placement of notes by JPMorgan Chase and Merrill Lynch, according to three people with direct knowledge of the agreement. The deal would end the enormous perpetual payments and settle a lawsuit filed in federal court by the Silnas that demanded additional compensation from sources of television revenue that did not exist in 1976, including NBA TV, foreign broadcasting of games and League Pass, the service that lets fans watch out-of-market games.
Still, the league is not getting rid of the Silnas altogether. They will continue to get some television revenue, some of it from the disputed sources named in their lawsuit, through a new partnership that is to be formed with the Nets, the Pacers, the Nuggets and the Spurs, according to the people with knowledge of the agreement. But at some point, the Silnas can be bought out of their interest in the partnership.
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Bobby Bonilla hasn't played since 2000 but gets a little over a milli every year from 2011 until 2035....I think Kevin Garnett, Todd Helton and Manny Ramirez has a similar deal worked out where they get paid annually even though they not playing.
Happy Bobby Bonilla Day! His annual $1.19 million payday is here
http://www.espn.com/blog/new-york/m...la-day-his-annual-1-19-million-payday-is-here
Today, the New York Mets will pay Bobby Bonilla another installment of $1,193,248.20.
Every July 1, from 2011 to 2035, the Mets make the payment as part of deferring the $5.9 million the Mets owed him from the 2000 season, a year in which he didn't play for the team, because they released him in January. As noted last year, Bonilla's agent worked out a deal that deferred payment (with an 8 percent annual interest rate).
With seven payments now in, Bonilla has now collected $8,352,737.40. There are 18 more payments due to Bonilla through 2035. When all the payments are made, Bonilla will have turned that $5.9 million into $29.8 million.
But that's not all.
Bonilla also has deferred money that is being paid by the Mets and the Baltimore Orioles, who took Bonilla for the final year and a half (1995 and 1996) of his first Mets contract, a five-year deal signed in December 1991 for $29 million.
The two teams split a $12.5 million payment which comes in 25 installments. That deal started in 2004, so Bonilla has received 14 payments worth a total of $7 million, and he will receive another $5.5 million through 2028.
So to recap, Bonilla has already received $15.3 million in deferred money. Over the next 18 years, he has another $27 million to go.
All this looks even better from his home in Sarasota, Florida, where there's no state income tax.
Happy Bobby Bonilla Day! His annual $1.19 million payday is here
http://www.espn.com/blog/new-york/m...la-day-his-annual-1-19-million-payday-is-here
Today, the New York Mets will pay Bobby Bonilla another installment of $1,193,248.20.
Every July 1, from 2011 to 2035, the Mets make the payment as part of deferring the $5.9 million the Mets owed him from the 2000 season, a year in which he didn't play for the team, because they released him in January. As noted last year, Bonilla's agent worked out a deal that deferred payment (with an 8 percent annual interest rate).
With seven payments now in, Bonilla has now collected $8,352,737.40. There are 18 more payments due to Bonilla through 2035. When all the payments are made, Bonilla will have turned that $5.9 million into $29.8 million.
But that's not all.
Bonilla also has deferred money that is being paid by the Mets and the Baltimore Orioles, who took Bonilla for the final year and a half (1995 and 1996) of his first Mets contract, a five-year deal signed in December 1991 for $29 million.
The two teams split a $12.5 million payment which comes in 25 installments. That deal started in 2004, so Bonilla has received 14 payments worth a total of $7 million, and he will receive another $5.5 million through 2028.
So to recap, Bonilla has already received $15.3 million in deferred money. Over the next 18 years, he has another $27 million to go.
All this looks even better from his home in Sarasota, Florida, where there's no state income tax.
Will Munny
New member
PanchoYoSancho;c-10053736 said:
Sadly... this n
Shizlansky
New member
313 wayz;c-10055860 said:
Absolutely nothing compares to this. Nothing
Elzo69Renaissance
New member
MJ last contract
Will Munny
New member
sam bradford on the last rookie super contract
Revolver Ocelot
New member
O.G.;c-10054369 said:From 2014
When the NBA and ABA merged in 1976 four teams came in the league — the Nets, Pacers, Spurs and Nuggets — while the Spirits of St. Louis were left out (sort of like the Flint Michigan Tropics). The owners of the Spirit, Ozzie and Daniel Silna, wanted some compensation for missing out and they worked out a deal with the league to get one-seventh of the national television revenue that each of the four teams coming in was to get — in perpetuity. Forever.
Back in 1976 the sum was laughably small, but in the years since the NBA’s broadcast rights exploded and the Silnas got a piece of it every year, an estimated $300 million in the nearly 40 years since the merger. As you might imagine, the NBA has tried to get out from that agreement but to no avail, in fact a judge recently ruled that the Silnas should get a slice of international and league pass broadband rights, too.
However, finally the two sides have worked out a buyout, reports the New York Times.
On Tuesday, the Silnas, the league and the four former A.B.A. teams will announce a conditional deal that will end the Silnas’ golden annuity. Almost.
The Silnas are to receive a $500 million upfront payment, financed through a private placement of notes by JPMorgan Chase and Merrill Lynch, according to three people with direct knowledge of the agreement. The deal would end the enormous perpetual payments and settle a lawsuit filed in federal court by the Silnas that demanded additional compensation from sources of television revenue that did not exist in 1976, including NBA TV, foreign broadcasting of games and League Pass, the service that lets fans watch out-of-market games.
Still, the league is not getting rid of the Silnas altogether. They will continue to get some television revenue, some of it from the disputed sources named in their lawsuit, through a new partnership that is to be formed with the Nets, the Pacers, the Nuggets and the Spurs, according to the people with knowledge of the agreement. But at some point, the Silnas can be bought out of their interest in the partnership.
Yeah I remember this from their 30 for 30.
It might not only be the best business move in sports but business in general.
