Submit a correction suggestion and help us fix it! My book about former TD Ameritrade CEO-turned-football coach, Joe Moglia: “4th AND GOAL: One Man’s Quest to Recapture His Dream.”, I am the author of the New York Times bestseller, “Saban: The Making of a Coach," a biography of Alabama head coach, Nick Saban. During the 2010-2011 season, the Silna's earned a royalty of $17.45 million. The New York Times is reporting that the National Basketball Association has finally reached an agreement with Ozzie and Daniel Silna, two brothers who owned the Spirits of St. Louis, a former American Basketball Association franchise through which they had negotiated what became known as “the greatest sports deal of all time.” With help from their lawyer, Donald Schupak, the Silnas had, since 1976, received a portion of the NBA’s television rights fees which added up to an estimated $300 million. But that wasn't quite enough to make them satisfied. And if that's not crazy enough, they are expecting to receive an additional $95 million over the next five years! was already seven years old when the Silnas — the owners of a New Jersey textiles business that specialized in making polyester — bought the Carolina Cougars and moved them to St. Louis in 1974. © 2020 Forbes Media LLC. And with that explosion in popularity came several very large television contracts. teams, had listened to arguments over whether two … In total, between 1976 and 2014, Ozzie and Daniel Silna earned a whopping $300 million in NBA television royalties. Michael Goldberg, who was the A.B.A.’s general counsel, recalled the Silnas as passionate owners who took a risk by buying into a shaky, undercapitalized league. (Then the president and majority owner of Kentucky Fried Chicken, Brown would go on to become the governor of Kentucky.) I'm also a contributing editor at Garden & Gun and The Drake. Several months back we wrote an article titled "The Greatest Sports Business Deal Of All Time". The owners of the Spirits of St. Louis agreed to be paid a small fraction of the N.B.A.’s television money to comfort them for being cut out of joining the older league. And it looks like, with an upfront payment of a cool $500 million or so, the NBA will finally get its wish. The Silna brothers used to own an American Basketball Association (ABA) team called The Spirits of St. Louis. Early Life Of The Silna Brothers. $800 million that could have been settled in 1982 for 1/100th of the amount. For one thing, $2.2 million was far less than the $3 million originally offered. For the 1980-81 season, the Silnas earned $521,749. But not all of their business moves have been so lucrative. Add it all up and the Silnas look pretty smart: By turning down $3 million in guaranteed money, they eventually made about $800 million. Then factor in rights deals for other countries. In 1973 they stuck a deal to purchase the ABA's struggling Carolina Cougars for $1 million. On Thursday, he said he preferred not to talk about it. In the early 1980s, the teams discussed buying out the Silnas for $5 million to $6 million but did not pursue it. Ozzie Silna, shooting an A.B.A. By: Bryan Kalbrosky, NBA prospect Robert Woodard: 'When I'm on the court, I'm a different person. Their names changed regularly. When the Virginia Squires folded, the ABA and NBA had just two teams left to deal with: The Kentucky Colonels and the Spirits. The best result we found for your search is Daniel I Silna I age 70s in Saddle River, NJ in the Saddle River neighborhood. The Greatest Sports Business Deal Of All Time, Ozzie Silna, One Of The Brothers Who Made $800 Million Off The Best Business Deal Of All Time, Dies At 83, Larry Brown Made More Money In One Year With The Knicks Than Any Coach Ever Will With Another Franchise. Previously cities included Carlstadt NJ and White Lake NY. Here, once again is the story of Daniel and Ozzie Silna and how they accidentally made a FORTUNE and pissed off the NBA for decades. Unfortunately that left the Silnas and the Kentucky Colonels, the other remaining franchise, on the outside looking in. And as for broader media rights... no one had the foresight to predict the Internet. Digital streaming rights in China alone are worth $140 million per year for 5 years. It's a long read, but I think totally worth your time. So, for NBA executives it seemed like a very meaningless and inconsequential concession to offer the Silnas a small percentage of "Visual Media" (television) revenues to make them go away.
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