As we recently chronicled, the Silnas have earned around $300 million from their revenue sharing agreement.
Now the League is proposing to buy them out for another $500 million.
Kudos to you Silnas! Well played.
To see how well, consider that there was another ABA franchise in a similar position also negotiating with the NBA about being frozen out of the merger. They were the Kentucky Colonels. Their owner, the allegedly wily John Y. Brown masterfully negotiated a $3 million dollar lump sum payment.
John Y. no good. Just ask Phillis George.