The NBA agreed on Tuesday to pay nearly $25 million to former ABA players.
The recognition payments will go to about 115 former ABA players who played at least three seasons and didn’t qualify for the pension plan.
Eligible former ABA players will receive an annual payment of $3,828 for each year they played, the league said. A player that played five seasons, for example, would earn $19,140 annually."Our players have a genuine sense of appreciation for those who paved the way and helped us achieve the success we enjoy today," NBPA executive director Tamika Tremaglio said in a statement.
The ABA was first founded in 1967, and it merged with the NBA in 1976. Only four ABA teams — the Pacers, Denver Nuggets, New York Nets and San Antonio Spurs — were absorbed into the new league. "It's an incredible day for ABA players, one that we and the players have been hoping for and working so hard toward for many years," said Scott Tarter, the CEO and founder of Dropping Dimes, which has been advocating for former ABA players for years,"In some ways, we feel these aging ABA players, who broke so many barriers in the 1960s and 70s, deserve even more recognition," he added.
This article originally appeared on Yahoo Sports at https://sports.yahoo.com/nba-announces-nearly-25-million-in-recognition-payments-to-former-aba-players-022826657.html
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