NBA Settles Ex-ABA Team Owners' IP Row For $500M

Law360, Los Angeles (January 7, 2014, 10:09 PM EST) -- The National Basketball Association has reportedly reached a $500 million conditional settlement with the owners of a former American Basketball Association franchise, ending a New York federal suit over visual-media rights and a lucrative agreement in which they received revenue shares totaling $300 million.

The NBA said Tuesday that the deal involves a compromise over various matters that were the subject of the pending lawsuit, including payments the Spirits of St. Louis Basketball Club LP claim it's owed under the terms of a 1976 settlement that...
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