In 1976, the two leagues merged, resulting in the four ABA teams that still exist today (San Antonio Spurs, Denver Nuggets, Indiana Pacers, and New York Knicks) joining the NBA (National Basketball Association). The management of the world’s leading basketball league has just agreed with the NBA players’ association on the payment of financial support in the amount of 24.5 million to former ABA basketball players who are in an unfavorable financial situation.
“This is an incredible day for former ABA players, something we and the players have been working towards for many years,” said Scott Tarter, head of the non-profit organization “Dropping Dimes”. The organization was founded in 2014 with the exact goal of helping ABA veterans and their families.
A total of 115 former basketball players who have played at least three seasons in the ABA or ABA and NBA and have not received a pension from the NBA have qualified for support. The agreement stipulates that these players will be paid 3,828 dollars per year for each season played. For example, a player who has played three seasons will receive $11,484.
The funding source will be split 50-50 between the NBA and the NBA Players Association. “Our players are very appreciative of those who have led the way and helped us reach the heights we have been able to today,” said a spokeswoman for the players’ association. “We felt the need to take action to help ABA players who are aging and in many cases facing financial hardship,” added NBA Commissioner Adam Silver.
Resources used:
https://sports.yahoo.com/nba-pay-fo…
