“Decision long overdue” NBA makes a landmark decision to support former American Basketball Association players with $24.5 million as “recognition payments”
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The NBA is one of the highest paying sports organizations in the entire world. Each player generally earns in millions every season and the average player on a roster would also make around the same. Most of the time, players make several investments to earn more revenue every year and often it helps them live a fairly lavish life.
Players such as Shaquille O’Neal and even the GOAT Michael Jordan are some players who have used investments to earn plenty after years of retirement. MJ is now one of three billionaire athletes in the entire world. But not every player has been smart with their money. Sometimes a big salary would tempt them to spend it all on extravagant items leaving them with zero returns by the end of their career and no saving.
NBA makes a major announcement to help former ABA players
The NBA was formerly not a single organization as it also had a rival company called the American Basketball Association (ABA). It functioned from 1967 to 1976 before merging with the NBA to help increase the financial situations of both leagues. But unfortunately, the exact opposite had happened and several ABA player were left with low income. After several years of planning, the NBA along with the Indianapolis Dropping Dimes Foundation have made a big agreement to help former ABA players.
The Dropping Dimes Foundation was established in 2014 to provide financial assistance to struggle ABA players to pay rent, medical bills and other basic necessities. The NBA board of governors agreed to pay $24.5 million to eligible players under the cause. Around 115 people are eligible for the new scheme that states they should have played at least three seasons with the ABA or both leagues combined. A sum of $3,828 will be paid annually as a “recognition payment” for each year they were with the league.
NBA Fans react to NBA humble decision to help ABA veterans
It is a very beautiful and thoughtful gesture that the NBA along with the NBPA will be making. Fans were very appreciative of the league showing their long overdue support to former veterans of the sport. Here are a few reactions.
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Rakibul John Rodgers
(1258 Articles Published)