The Flint Tropics basketball team from Will Ferrell’s sports comedy classic Semi-Pro is based on an amalgamation of all the teams from the eccentric American Basketball Association (ABA). However, it’s hard to deny that there is one ABA team in particular that seems to make up most of the Tropics’ DNA. While only existing for 2 years, the Spirits of St. Louis made a splash on the sports world during their brief time and somehow ended up with a broadcast television deal that still pays out to this day (more on that later).

Based in St. Louis, Missouri, and playing their home games at the St. Louis Arena, the Spirits existed in the ABA from 1974 to 1976. They were actually one of the last teams to join the ABA. The team’s name was a nod to the Gateway Arch and the city’s aviation history, referencing Charles Lindbergh’s famous plane, the Spirit of St. Louis.

The Spirit team became notable for its colorful players and high-scoring games, consistent with the ABA’s flashy style. The organization’s more entertaining personalities included great player but troubled human, Marvin “Bad News” Barnes and the energetic fledgling (sometimes annoying) announcer Bob Costas. Future hall of famer Moses Malone even logged some minutes with the team.

And if basketball wasn’t your thing, games often featured events for attendees like disco concerts at halftime, Ladies’ Night, or “shooting for cash”. Undoubtedly, a St. Louis version of Dukes from Semi-Pro attempted a half-court shot for cash at some point between 1974 and 1976.

The Tropics’ storyline about struggling to survive the merger with the National Basketball Association (NBA) echoes the real-life challenges faced by ABA teams in 1976. Only four ABA teams were absorbed into the NBA (the Denver Nuggets, Indiana Pacers, New York Nets, and San Antonio Spurs), leaving others to fold or relocate. The Spirits were not among the four teams absorbed. The left-out teams had to either fold or negotiate buyouts.

The owners of the Spirits, Ozzie and Daniel Silna, refused to be bought out and, we’d like to think in the style of Jackie Moon, negotiated a remarkable deal: instead of a lump sum buyout, they retained perpetual rights to a share of future TV revenues from the ABA teams that joined the NBA. The deal entitled the Silnas’ to 1/7th of the TV revenue share received by each of the four former ABA teams that joined the NBA. This worked out to approximately 2% of the NBA’s overall TV revenue.

This seemed like a bold move at the time since TV contracts were very modest and not worth much money. The Silna brothers understood the potential of future television revenue though and resisted that one-time buyout. The ABA agreed to the deal because they thought that 2% would not amount to much cash anyway and they had a merger to complete.

With the arrival of Magic Johnson, Larry Bird, and Michael Jordan, the NBA’s popularity soared and TV contracts exploded in subsequent decades. The Silnas began earning millions annually for a basketball team that no longer even existed.

The NBA naturally had been trying to get out of this deal for a while. In 2014, their wish was granted but at another great cost. A settlement was reached with the Silna brothers to end the perpetual payments. The Silnas reportedly received a lump sum of $500 million while retaining a reduced share of some revenues. It is believed they have earned close to $800 million since the original arrangement was made all those years ago.

The Silna brothers’ deal is a testament to foresight and negotiation skills, as they leveraged a long-term vision over short-term gain. The deal, often called “the greatest deal in sports,” has become a legendary example of how understanding the future potential of a growing industry can result in extraordinary financial returns. The Spirits of St. Louis may have had a short lifespan as a team, but this deal ensured their lasting legacy in sports history.