26
Feb
09

NBA Teams are Going Bankrupt!


Yikes!

The NBA has taken out a line of credit worth $175 million today to help teams who are having a hard time meeting expenses. Reportedly 15 teams requested assistance from the league with each team receiving no more than $11.66 million. JP Morgan and Bank of America reached out to the league apparently, not the other way around, offering some assistance, which is especially nice to see. After all, if the millionaire/billionaire owners of the NBA teams need a hand I’m glad that the banking institutions are ready and eager to help them with a loan, you know, as opposed to the millions of Americans who need a loan to keep buying food, not for stocking up jet fuel for charter flights.

Low attendance, poor play and worse management have led to this “crisis” for these various teams, I also feel confident that a lot of the issues can be blamed on Isiah Thomas, because, you know, why not.

There is even a report that the salary cap might be LOWERED next season from $59 to $57 million and that this whole situation could lead to another labor showdown in 2011, which would be PHENOMENAL for the NBA since the last lockout worked so well…

[Washington Times]


0 Responses to “NBA Teams are Going Bankrupt!”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


Follow The Slanch Report

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 19 other followers

Sign Our Petition!

The Slanch Report has started an online petition asking the MLB Network to air the Dock Ellis no-hitter he threw on June 12, 1970 against the San Diego Padres. The moment was a seminal piece of baseball history and is certainly worthy of being rerun.

Please join us in this cause and sign the petition below so we can all share in this special and fantastic moment of baseball history. THANKS!
SIGN THE PETITION HERE! AND PLEASE TELL YOUR FRIENDS AND PASS THIS ALONG!

February 2009
M T W T F S S
« Jan   Mar »
 1
2345678
9101112131415
16171819202122
232425262728  

Categories


%d bloggers like this: