A new foundation designed to provide financial support for former American Basketball Association players is attracting high-profile involvement. Dropping Dimes Foundation Inc. was co-founded by Indianapolis-based Bose McKinney & Evans LLP Partner Scott Tarter and longtime Indiana Pacers Eye Physician John Abrams and includes advisory board members Bob Costas and Mel Daniels. During an interview on Inside INdiana Business, Abrams said some former ABA players are facing difficult times. Once the National Basketball Association bought out the ABA, only four teams were folded into the NBA.

The foundation says former ABA players not part of the merger “failed in most cases” to receive pensions or severance packages.

You can find out more about the organization by clicking here.

Source: Inside INdiana Business

The Foundation's Mission Statement:

The mission of the Dropping Dimes Foundation is simple: To raise public awareness of, and provide financial and other support for, former American Basketball Association players who are currently living in disadvantaged situations. These players were part of an organization that contributed to the economic growth and development of the cities, states and communities that hosted ABA teams, and changed the way professional basketball is played and marketed. These players were an important part of the communities in which they played. They introduced the three point shot and the slam dunk competition to professional basketball. When the American Basketball Association “merged” into the National Basketball Association in 1976, only four ABA teams survived. Former ABA players who were not part of the “merger,” or who did not play in the NBA long enough to have vested pension benefits, failed in most cases to receive pension or severance benefits. Players in the ABA made very little money compared to what professional players make today.

The Dropping Dimes Foundation was started by fans of the American Basketball Association who remember what these players did for their communities and for the sport of professional basketball. And who saw what little recognition and support many of these players have received in return. The Foundation will serve as a support mechanism for those former players who have fallen on hard times and need a helping hand, while advocating for the recognition of all former ABA players and the contributions they made to the communities in which they lived and played.

Source: Dropping Dimes Foundation Inc.

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