HUFFINGTON POST

NBA Set To Borrow $175 Million

03/29/2009 05:12 am ET | Updated May 25, 2011

CHARLOTTE, North Carolina - The National Basketball Association will borrow 175 million dollars to serve as aid to teams that might struggle in the weak global economy, Sports Business Journal reported Thursday.

The report said the presumption is teams would use the funds to cover operating losses and that while the league was not looking to borrow, Bank of America and JPMorgan came to the NBA several weeks ago with the opportunity.

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