NBA Expected to Borrow $175M Today

With the gloomy economy influencing the bottom line with the NBA, the league is expected to borrow $175 million today to address the losses. According to Tim Lemke of the Washington Times: The league will distribute the funds among 15 teams that requested them, with each team getting no more than $11.66 million. The borrowing, which is in addition to the $1.7 billion credit facility used by the league, comes as NBA teams are dealing with lower attendance and a loss of sponsorships. [?]While the NBA has not disclosed which 15 teams will receive the funds (the Wizards said they are not one of them), it's clear there are a number of teams in need of help. All around the league, some teams are playing in front of half-empty buildings, and no team can count on the once-reliable support from automakers and banks. The Memphis Grizzlies have been forced to keep payroll well below the league salary cap in recent years as attendance has fallen to less than 13,000 a game, last in the NBA....