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JaysFan87
02-26-2009, 05:29 PM
SportsBusiness Journal reports the NBA plans to borrow US$175 million to distribute to teams in need of additional cash. The deal comes at a time when leagues are laying off staffs and cutting ticket prices. It will allow the NBA to distribute up to $11.66 million to 15 teams that responded to a league survey gauging interest in the money, SportsBusiness Journal said.

The report says the league plans to borrow the money Thursday.

The report also says JPMorgan Chase and Bank of America arranged the private-placement deal, in which non-banking lenders extend the cash at a fixed rate.

In this case, the interest rate is 8.27 per cent for $100 million; 7.45 per cent for the remaining $75 million. Teams can use the money for any purpose.

(The Associated Press)


http://www.fan590.com/more.jsp?content=20090226_144937_5968

shonk688
02-26-2009, 05:52 PM
[QUOTE=JaysFan87;8525148]http://www.fan590.com/more.jsp?content=20090226_144937_5968[/QUOTE

More proof of the ****** *** economy.:(

mjt20mik
02-26-2009, 06:02 PM
The big market cities should be fine, it's just the small market cities which are going to get hurt BAD!

Hellcrooner
02-26-2009, 06:45 PM
Thats what happens,when you raise the players salaries ridicously

Go check at basketball reference how much did JORDAN, BIRD or Magic Johnson win in the 88-89 season.

Now check Kobes or Shaqs salary.


its me or a coca cola can was like 0,50 cents in 1987? does it cost 5 dollars a can now??


;)

Kohaku
02-26-2009, 07:47 PM
Thats what happens,when you raise the players salaries ridicously

Go check at basketball reference how much did JORDAN, BIRD or Magic Johnson win in the 88-89 season.

Now check Kobes or Shaqs salary.


its me or a coca cola can was like 0,50 cents in 1987? does it cost 5 dollars a can now??


;)

A can of coke still costs 0.50 here....