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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

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Speaker 1: and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security.

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Speaker 4: Today, we have a very special story, very interesting story,

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Speaker 4: and we're going to talk about the best sports deal

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Speaker 4: ever made.

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Speaker 5: Is that when you say the word interesting, that means

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Speaker 5: it's about to get real. That's facts about to get real.

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Speaker 4: So this this is the best sports deal ever made

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Speaker 4: in history, the history of sports. Right. So in the

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Speaker 4: nineteen seventies, there was a league called the.

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Speaker 6: ABA American Basketball Association.

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Speaker 4: Right. So there was an NBA, which everybody knows about

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Speaker 4: the NBA, right, but then there was the ABA. So

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Speaker 4: the best way I could really describe the ABA. If

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Speaker 4: anybody's a football fan, remember the AFL.

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Speaker 6: Yeah, so even not an XFL, right.

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Speaker 4: But the AFL was pretty big at one point. They

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Speaker 4: had herschel Walker up think yeah, yeah in the eighties. Yeah,

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Speaker 4: so the AFL was a was a football league in

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Speaker 4: the eighties and they was just wild, like they had

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Speaker 4: the cheerleaders, just it was the whole vibe was just.

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Speaker 6: Like, yeah, they wanted to be everything in the NFL.

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Speaker 4: Wan, Yeah, it was just more renegade.

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Speaker 5: You know, it would be better like WWF and w

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Speaker 5: CW okay, you know what I mean.

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Speaker 4: That was for the kids. Similar. So the ABA was

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Speaker 4: like the NBA at the time was kind of boring.

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Speaker 4: It was like the Celtics, you know, just blue collar.

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Speaker 4: You know, it's just kind of boring. For the ABA.

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Speaker 4: They had the stripe basketball, they had the cheerleaders, they

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Speaker 4: had the Duncan and they had good players too. They

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Speaker 4: had great they had Doctor j. They had Moses Malone,

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Speaker 4: David Thompson, David Thompson, so they had like George Gervin Iceman.

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Speaker 4: So the ABA was just like flail like street ball.

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Speaker 4: That's that's that's the that's the comparison. A BA was

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Speaker 4: like the an one street Ball, like the Rucker stuff

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Speaker 4: like that All.

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Speaker 6: Star Game like that comes from the NBA.

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Speaker 4: All the festivity, the All Star Game, all that dunk contest,

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Speaker 4: a BA exactly. So ABA was they was they was

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Speaker 4: for excitement, right, but financially they it just wasn't working

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Speaker 4: out for them, right. So what happened is that there

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Speaker 4: was seven teams in the A B A and the

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Speaker 4: NBA wanted to merge, right because it was just didn't

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Speaker 4: make sense to just kind of compete with them, and

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Speaker 4: the ABA was kind of one of the last like financially,

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Speaker 4: so the NB he went to them and they proposed

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Speaker 4: the merger, right, So the merger, the ABA accepted the merger,

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Speaker 4: and it was seven teams at the time, so four

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Speaker 4: teams were brought into the NBA. Those four teams were

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Speaker 4: the Nets, the Nuggets, the Pacers, and the Spurs, which

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Speaker 4: are still in the NBA today, right, And then so

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Speaker 4: that was three more teams left. So one team in Virginia.

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Speaker 4: They they actually fizzled out and then they didn't get

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Speaker 4: brought in because they just didn't make it right, they

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Speaker 4: bellied up, So that that left two teams. Right. So

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Speaker 4: you had Kentucky the team from Kentucky, Kentucky, I think Colonels.

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Speaker 4: Kentucky Colonels.

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Speaker 5: You crazy about them? The crazy thing about them is

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Speaker 5: that they were owned by the owner of Kentucky Fried Chicken, Yes,

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Speaker 5: which is crazy, John Brown.

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Speaker 6: Yeah.

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Speaker 5: So the NBA buys him out for three million dollars

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Speaker 5: at the time nineteen seventy six. It like that's a

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Speaker 5: lot of money. But this like that's a side business

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Speaker 5: for me, Like I got Kentucky Fried Chicken.

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Speaker 4: So he takes the deal and he also was the

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Speaker 4: own he became the governor of Kentucky.

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Speaker 6: Yeah, Governor of Kentucky.

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Speaker 4: Two yeah sor right. So they had the Kentucky Colonels

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Speaker 4: and the Saint Louis Squire.

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Speaker 6: Spirits spirits, Saint Lewis Spirits.

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Speaker 4: So they offer the Kentucky team and the Saint Louis

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Speaker 4: team three million dollars as a buyout. Kentucky takes it, right,

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Speaker 4: Saint Louis says, it's not so fast, not interested, not interested.

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Speaker 5: Well, they said no because they had the vision. They

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Speaker 5: were like, look, well, before.

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Speaker 4: You go to that, before you go to that. So

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Speaker 4: they said no, right, but they had good talent. Yeah,

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Speaker 4: they had Moses Malone a few other players.

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Speaker 5: Right, yeah, I think that was his rookie year in

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Speaker 5: nineteen seventy six. He's the first man child.

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Speaker 4: First, he's the first person to come from high school.

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Speaker 6: He's the first professional.

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Speaker 4: Right. So they rejected it, right, And the owners of

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Speaker 4: the team they had it was two brothers, Ozzie and

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Speaker 4: Dan and what's the last.

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Speaker 6: Name, Silna Silna.

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Speaker 4: And Dan Silna. So what they negotiated was a two

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Speaker 4: million dollar buyout and a part of the four teams

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Speaker 4: that were going into the NBA TV rights, So they

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Speaker 4: got one seventh of the TV rights of those four

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Speaker 4: teams that went to the NBA.

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Speaker 6: Right.

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Speaker 4: So, at the time TV wasn't really big. It was

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Speaker 4: like black and white, the things with the wire or

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Speaker 4: stuff like that. The seventies barely, but nobody was making money.

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Speaker 4: Nobody was making money on team yet yet, so they say, okay,

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Speaker 4: one seventh of four teams TV rights. They were so

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Speaker 4: eager to get the deal. The NBA just wanted to

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Speaker 4: get the deal done, right, He said, give them two

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Speaker 4: million and give them one seventh and let it, you know,

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Speaker 4: let them go on their way.

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Speaker 6: At that time, I think the biggest star in the NBA.

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Speaker 5: You have Oscar Robertson, Kareem Abdul Jabbar, and doctor Jay

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Speaker 5: is right there on that line was becoming superstar. Bill

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Speaker 5: Russells probably is one of the big stars too, not

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Speaker 5: the Russell, Bill Walton, Bill Warton.

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Speaker 4: Okay, So all right, so now this is nineteen seventy six,

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Speaker 4: seventy six, nineteen seventy six, so a few years past

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Speaker 4: and the eighties come and Larry Bird and Magic Johnson

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Speaker 4: coming to the league, right, Yeah, and the NBA changes

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Speaker 4: fever right. And then a few years after Larry Bird

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Speaker 4: and Magic Johnson coming to the league, is this.

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Speaker 6: Guy Michael Jordan, Michael Jeffrey Jordan, And then.

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Speaker 4: The league changes even more forever as.

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Speaker 5: Far as yeah, obviously landscape and now TV.

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Speaker 4: So now television television comes into play, right, and you

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Speaker 4: have a network called ESPN, and now sports is just

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Speaker 4: American television staple, right, everybody watching sports on TV now

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Speaker 4: in the eighties, nineties. So now.

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Speaker 5: This episode is brought to you by PNC Bank. A

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership. I'm Christy Noman, the.

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Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted

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Speaker 1: illegal border crossings are at the lowest levels ever recorded,

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Speaker 1: and over one hundred thousand illegal aliens have been arrested.

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Speaker 1: If you are here illegally, your next you will be

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Speaker 1: fine nearly one thousand dollars a day, imprisoned and.

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Speaker 2: Deported, you will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security.

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Speaker 4: What happened as nobody would have watched sports on TV.

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Speaker 4: Let's just give these guys one seventh. They ended up

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Speaker 4: as the league grule to the league v to thirty teens. Right,

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Speaker 4: So their TV revenue those the two brothers equal two

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Speaker 4: percent of the total TV revenue for the NBA. Right,

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Speaker 4: So every year they got two percent of TV revenue

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Speaker 4: in perpetuity. That was the best part of the deal.

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Speaker 4: It was in purpetuity. It's no end dates forever.

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Speaker 6: So you want to just tell them what perpetuities some

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Speaker 6: people don't even know.

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Speaker 4: Yeah, perpetuity means forever, continuous. That's the easy answer, continuous.

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Speaker 4: So so now they have two percent of all NBA

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Speaker 4: TV revenue forever. Right, So this thing is one of

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Speaker 4: the most embarrassing things that the NBA has ever dealt with, right,

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Speaker 4: because they end up paying these guys three hundred million

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Speaker 4: dollars right from they started from from nineteen seventy six

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Speaker 4: to twenty fourteen.

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Speaker 5: The crazy part is that from seventy six to seventy

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Speaker 5: nine they didn't make a dollar, but from eighty to

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Speaker 5: ninety seven or eighty to like two thousands to two thousand,

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Speaker 5: three hundred million, three.

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Speaker 4: Hundred million, twenty fourteen eight it was three hundred million, right.

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Speaker 4: So finally in fourteen, the NBA they're going to reap

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Speaker 4: on the TV deal.

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Speaker 5: Right, right, So like they're about to They had a

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Speaker 5: few TV deals prior. They had one with NBC and

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Speaker 5: then they had one with ESPN, and right, like you said,

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Speaker 5: sports were build over there, Like that's a twenty four

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Speaker 5: to seven sports network, so you could imagine like people

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Speaker 5: are going to be consuming sports at all time. I

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Speaker 5: But in twenty fourteen they re up with Turn of

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Speaker 5: Sports and ESPN a nine year deal for twenty four

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Speaker 5: billion dollars.

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Speaker 4: Right, So right, Before they do that, they say, Okay,

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Speaker 4: we have to get away from this deal because we've

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Speaker 4: been bleeding money for thirty years and it's only going

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Speaker 4: to get worse as we continue to grow. And now

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Speaker 4: they see that, Okay, the TV deals is going to

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Speaker 4: keep getting bigger and bigger, right, and we're not going

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Speaker 4: to keep paying these guys two percent forever, right, So

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Speaker 4: we got to get away from this. So they agree

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Speaker 4: on a deal in twenty fourteen for a lump sum

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Speaker 4: buy out of five hundred million dollars. Right. So now

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Speaker 4: you added three hundred million that they got up into

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Speaker 4: two for that number. Up, you add the five hundred million,

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Speaker 4: eight hundred million dollars. They got eight hundred million dollars

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Speaker 4: on a three million dollar deal. Yeah, three million dollar

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Speaker 4: buyout originally that they turned down. They ended up getting

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Speaker 4: eight hundred million.

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Speaker 6: The NBA didn't even have to have this problem. They

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Speaker 6: didn't even have to.

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Speaker 5: Like they wanted to buy teams, they wanted to buy

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Speaker 5: Detroit in the late seventies. They wanted to buy the

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Speaker 5: Jersey Nets at that time in the nineties, they would

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Speaker 5: have had been owners. In two thousand and two. Out

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Speaker 5: of twenty ten they had accumulated almost three hundred million.

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Speaker 5: They were worth more than the Indiana Pacers were.

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Speaker 6: No.

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Speaker 4: But the best part about the story is that, so

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Speaker 4: they make eight hundred million dollars from the NBA without

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Speaker 4: any overhead, no a team that nobody's heard of, a

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Speaker 4: phantom team that nobody's.

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Speaker 6: Heard off straightfit, no.

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Speaker 4: No players, no roster, no overhead, no building, nothing. They

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Speaker 4: literally made almost a billion dollars just cause yeah forever.

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Speaker 4: So that people say, Okay, well why did they take

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Speaker 4: the buyout? They could have just kept this going forever. Right,

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Speaker 4: So the guy, one of the guys died rest in

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Speaker 4: peace a couple of years ago, so I think, you know,

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Speaker 4: he probably gets to a point where it's like, Okay,

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Speaker 4: I'm about to die soon, so I might just get

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Speaker 4: five hundred million up front. Yeah, you know right. And

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Speaker 4: then also it was a headache for them because they

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Speaker 4: hired lawyers. They kept going back and forth because they

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Speaker 4: felt like the NBA was kind of cheating them with

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Speaker 4: the numbers and it wasn't correct. So they that was

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Speaker 4: kind of and then their name was always associated with that.

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Speaker 4: They didn't really want to be associated with that forever.

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Speaker 4: I went, yeah, it's not a bad thing. They kind

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Speaker 4: of wanted to just get it over with. Uh, but

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Speaker 4: in life ups and downs. Right, So they make almost

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Speaker 4: eight hundred million dollars doing nothing, but then they lose

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Speaker 4: a substantial amount of money.

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Speaker 5: Yeah, from connect with this, the notorious notorious one Bernie made.

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Speaker 4: Of Bernie Madoff. Bernie Madoff. So Bernie Madoff burns him

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Speaker 4: pretty bad. Yeah, man, Bernie Madoff Berson pretty bad. And

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Speaker 4: they lose a lot of money with Bernie made Off.

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Speaker 5: Yeah, they said, thank god they didn't lose it at all,

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Speaker 5: because they would. They had the firstified their portfolio, which

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Speaker 5: is good, but they did lose a substantial amount with Bernie.

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Speaker 4: They lost a lot.

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Speaker 6: He's doing fifty years.

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Speaker 4: Yeah, he's doing a lot. He's doing a lot of time.

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Speaker 4: Bernie Madeo plays a part in METS as well.

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Speaker 6: Yeah, the will Palm family lost a lot of money.

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Speaker 4: We'll talk about some we'll talk about that sometimes. But

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Speaker 4: so yeah, so by day they won. Even though they

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Speaker 4: lost a lot of money with Bernie made Off, they

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Speaker 4: still won. And the grand scheme of things, and it's

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Speaker 4: a good story. And how we bring it back to

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Speaker 4: the everyday person is that we always talk about equity, right,

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Speaker 4: and the power of equity and the power of the

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Speaker 4: layed gratification not taking everything up front. So they still

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Speaker 4: got two million dollars up front. But that TV deal

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Speaker 4: that they struck was brilliant, right and met in the

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Speaker 4: almost a billion dollars. So the guy from KFC, I mean,

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Speaker 4: he's filthy rich. I'm sure you know. It's not the

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Speaker 4: end of the world. But he has to be kicking

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Speaker 4: himself or his family. I mean, you took three million

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Speaker 4: dollars and the other guys.

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Speaker 6: About the owners of the Virginia Squires, they left before

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Speaker 6: they could even get the three million, the two million

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Speaker 6: dollar offer to be bought out.

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Speaker 4: Man, they weren't ollers.

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Speaker 6: No, the Virginia's wives, Oh Virginia Squires folded before they

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Speaker 6: can get it.

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Speaker 4: They folded. They wasn't their fault. They folded well.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership. I'm Christy Noman, the.

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Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted

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Speaker 1: illegal border crossings are at the lowest levels ever recorded,

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Speaker 1: and over one hundred thousand illegal aliens.

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Speaker 2: Have been arrested.

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Speaker 1: If you are here illegally, your next you will be

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Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally.

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security,