In the 60s of the 20th century, because the ABA league could not get high-quality TV contracts like the NBA league, so many ABA teams were in financial trouble before the merger of the two leagues, starting in 1970, the NBA successively reached acquisition agreements with the ABA, the NBA provided $5 million for each team of the ABA to acquire, 5 million was a huge amount at the time, due to the high quotation, the acquisition process has been carried out in an orderly manner.
The Srner brothers
Until 1976, the New York Nets, Denver Nuggets, Indiana Pacers, San Antonio Spurs four teams have completed the merger with the NBA, only the Kentucky Colonels and the St. Louis Spirit refused to merge, Kentucky Colonels owner John Brown because of other plans, sent the team's championship heroes away, and received a lot of cash compensation, and the Kentucky Colonels team was later disbanded, but the St. Louis Spirit team owner Srner brothers were unwilling, They asked the NBA to give $8 million to definitely give up the team, but the NBA refused to budge, and with the disbandment of the Colonels, the Srner brothers finally relieved, saying that 5 million was okay, but put forward a condition, they must be given 1/7 of the TV broadcast revenue of the four teams of the Spurs, Nuggets, Nets, and Pacers every year (this contract is always dividends because there is no time limit). Since home television in the United States at the time was far from widespread, the league's revenue was mainly based on ticket revenue. NBA executives thought it was more cost-effective and happily agreed, and the NBA officially completed the acquisition of ABA in 1976.
Later, due to poor management, the company suffered a huge deficit and was prepared to buy out the TV rights contract signed at the time for $8 million, but the NBA league gave up to $5 million, and the two sides broke up.
After Stern came to power, he mainly promoted the demon bird to fight for hegemony
No one expected that after Stern took office in 1984, a series of measures were taken to enhance the viewing of the NBA, and Michael Jordan was born, swept the world, and the influence of the NBA quickly spread to the world, becoming the world's most popular game, coupled with technological progress, American home television gradually popularized, and in the 90s, they could share $4 million in dividends every year.
Save Jordan the NBA's flyer
The broadcast contract is rising higher and higher every time, the dividends received by the Srner brothers from the NBA are higher and higher every time, and the value of the four teams is constantly increasing, and the red-eyed Stern finally can't stand it, in order not to let the Srner brothers continue to eat the dividends, so he took the team to start years of negotiations with the Srner brothers.
David Stern
In 2014, after the NBA signed a 9-year, $24 billion super broadcast contract, NBA executives worked hard to find the Srner Brothers, and after many rounds of negotiations, the Srner Brothers, who were over 70 years old, were finally willing to accept the NBA's proposal of $500 million to acquire 1/7 of the broadcast rights.
The Srna brothers, who are in their seventies
In the 38 years from 1976 to 2014, the Srner brothers received $750 million in dividends from the NBA, and with the final buyout contract, they earned as much as $1.25 billion, far more than the original $3 million. The Srner brothers' broadcast contract is the longest and most garbage contract in NBA history.
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