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NBA to borrow $200 million to aid teams

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posted on Feb, 28 2009 @ 12:37 AM
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NBA to borrow $200 million to aid teams


nbcsports.msnbc.com

The league has an existing $1.7 billion credit facility, essentially a line of credit established by lenders from which teams can borrow. The league had been interested in growing the facility when the credit markets seized up last fall.

“They told us there’s no chance of any additional funds being raised for any sports league, and indeed, the credit facilities that had come up for other leagues were being termed out rather than renewed,” Stern said.

JPMorgan Chase and Bank of America recently approached the league to say $150 million might be available, a figure that eventually grew to $200 million.

(visit the link for the full news article)




posted on Feb, 28 2009 @ 12:37 AM
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I should have known the lending institution involved would be J.P.Morgan. I mean the Rothchild's. One of the few financial company's that seem to be doing ok.

I'm all for sports, but the monies involved, is so way out of control.
The mind boggles at how much is spent,earned and gambled
in the Big Business of Sports

This organization is expanding and building new facilities.

More and more Americans are living in tents.The same Americans who are the Fans.
Where's the Humanity?
Have they no shame?

nbcsports.msnbc.com
(visit the link for the full news article)



posted on Feb, 28 2009 @ 05:45 AM
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Yeah Right, How come those high paid basketball players cant donate?



posted on Feb, 28 2009 @ 06:13 AM
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America's list of priorities is so out of whack it's mind boggling. It's a sad world we live in when pro athletes make a hundred times more than teachers and other professions that actually contribute to society.



posted on Feb, 28 2009 @ 06:31 AM
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Why would the NBA -BORROW- money? I mean, surely they realize this means it must be paid back?

Whatever happened to just asking the government for a bail out? Surely they considered it?



posted on Feb, 28 2009 @ 07:00 AM
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200 mil to aid teams, and every team has at least one pro making a mil,




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