It’s been called the greatest deal in sports franchise history, and now, it may finally come to an end. The NBA has long hoped to be relieved of a 1976 agreement that gave two brothers one-seventh of the visual media revenues received by four NBA teams. The agreement didn’t seem outrageous in 1976, but in 2014, that agreement has given the brothers over $300 million in media revenue. Finally, the NBA and the two brothers, Daniel and Ozzie Silna, are coming to a settlement to …Continue Reading
The NBA, and more specifically, four of its teams, were on the wrong side of an historic windfall. And now, they’re looking to get out of it.
When the ABA merged with the NBA in 1976, the plan was to keep four of the league’s seven teams: the Denver Nuggets, San Antonio Spurs, New York (later New Jersey and now Brooklyn) Nets and Indiana Pacers. The Virginia Squires were folded by the ABA before the end of the season due to financial problems. The Kentucky …Continue Reading
Kobe Bryant met a New Jersey auction company in the middle on Monday, June 10, 2013 during settlement discussions. Bryant and Goldin Auctions LLC reached a settlement agreement ending a month long battle over a collection of the NBA star’s memorabilia spanning all the way back to Bryant’s high school career. Bryant’s mother Pamela Bryant offered Goldin a collection of Bryant memorabilia in return for an advance of $450,000 in January 2013. Items include several of Bryant’s high school uniforms, his 1996 High School All-American …Continue Reading
Jay-Z has built an impressive empire as a rap mogul, and now he’s moving into sports, reaching an agreement with Creative Artists Agency (CAA), which represents more than 800 professional athletes. Jay-Z has wasted no time making moves, signing on New York Yankees second baseman Robinson Cano, and New York Giants wide receiver Victor Cruz as clients.
This move into the world of sports agency has not gone unnoticed. Cano was signed away from Scott Boras, universally regarded as baseball’s most powerful agent. And …Continue Reading