NBA Ball and Court

If you, like many Americans, are looking for a good way to ensure your comfortable retirement, consider this story about a couple of brothers who made an 800% return on their initial investment:

In the early days of professional basketball, there were two separate leagues competing for fans: the NBA we know now and the ABA (American Basketball Association). In the mid-70s, the NBA bought out the ABA and select teams merged into the NBA. The teams which did not make it into the NBA were paid out sums around $3 million and dissolved their organizations. However, brothers Daniel and Ozzie Silna didn’t want the payout. 

The Silna brothers negotiated a deal with the NBA in which they would receive an annual 2% of television revenue from that time forward. It wasn’t asking a lot of the NBA at the time, they weren’t even broadcasting the NBA playoffs on television yet. The Silna brothers were betting on the NBA; they believed that 2% of television revenue would eventually be worth significantly more than the payout of $3 million. And they were right.

This deal, negotiated over a team that the brothers had bought just a year before for $1 million and never actually managed, came to make the Silna brothers an estimated $800 million by the time that the NBA managed to buy them out of their deal. They continue to receive an undisclosed fixed annual fee from the NBA.

There is no guarantee that you will see the type of dividends on your annuity that the Silna brothers do, however it is a good example of the benefits of annuity. With an annuity, you receive a fixed rate on your investment, which means the more money that your investment is making, the more you get paid out. And unlike payouts from retirement funds, this money is income rather than a mixture of savings and return on investment. This means you continue to be paid out that fixed rate until you die and there is no cap on how much you can earn.

Make a worthy investment toward your future. Contact a TVC Insurance representative to learn how you can prepare for the days to come. Request a quote today!

Posted 12:05 PM

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