When the NBA announced its multi-billion dollar television deal this week, it was a sign of the league's health. A lot of that revenue will eventually be taken up by players' salaries and other expenses. But for the former owners of the Spirits of St. Louis, it will be pure profit. Because of a deal struck in 1976, they will get one-seventh of the rights money given their former ABA brethren, including the Nets. Their gain will mean a $34 million loss for the Nets over the course of the contract. CNBC's Darren Rovell explains.
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