NBA to create $24.5 million program for former ABA players: ‘This will be life changing for them’

The NBA leading body of lead representatives casted a ballot Tuesday to pay $24.5 million to previous American Basketball Association players, a large number of whom are battling to pay lease, doctor’s visit expenses and purchase the fundamental necessities to live.

The understanding came to by the NBA and its players affiliation closes a years-in length fight sent off by the Indianapolis-based Dropping Dimes Foundation.

Dropping Dimes, a non-benefit established in 2014 to help battling previous ABA players and their families, has been begging the NBA to give players of the now-dead ABA the cash it says they merit.

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Around 115 players are qualified for the payout, which the NBA is calling “acknowledgment installments,” not benefits. Those players either burned through at least three years in the ABA or played something like three joined a long time in the ABA and NBA and never got a vested benefits from the NBA.

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The understanding pays players a normal $3,828 every year for every year they were in the association. For instance, a player with the base three seasons will get $11,484 per year. A player with the most long stretches of administration, for example, Freddie Lewis who has nine, will get $35,452 every year.

“It’s an extraordinary day for previous ABA players,” said Scott Tarter, CEO and pioneer behind Dropping Dimes, “one that we and the players have been expecting and really buckling down toward for a long time.”

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