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  • February 18, 2009 10:39 am  |  17 Comments

    Broke Teams to Borrow Millions from the NBA


    And your bank manager gives you a funny look when you try to borrow $100: “The Orlando Magic plan to borrow about $10 million from the NBA to largely offset operating losses incurred by the franchise, helping to bridge its move into a new arena in 2010. Alex Martins, the Magic’s chief operating officer, said on Tuesday that the club is among as many as 15 teams who intend to tap into a $1.7 billion league-wide credit facility that will soon be supplemented…The league surveyed its 30 teams, and 15 were interested in acquiring a loan. Each of the 15 teams can borrow a maximum of $11.7 million from the debt proceeds.”

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    • Ken Posted: Feb.18 at 10:46 am
      I’m sure the Nets are happy to hear this.

    • ciolkstar Posted: Feb.18 at 10:51 am
      Great idea, more bridge loans. They’re just lucky they have Dwight Howard.

    • BETCATS Posted: Feb.18 at 11:17 am
      david stern, let me get 35 cents so i can get on this bus!

    • donlaker Posted: Feb.18 at 11:26 am
      my clipper season tickets are worth WHAT….
      I NEED an nba fan loan…. david $tern take note.

    • donlaker Posted: Feb.18 at 11:30 am
      hey betcats , the n.b.a. cares i saw the pic of starbury on the bus stop..

    • Doc Funk Posted: Feb.18 at 11:32 am
      They should’ve traded their gold for cash.

    • Mexican Aristotle Posted: Feb.18 at 11:45 am
      Damn, sad times. No wonder when Jameer went down all we got was effing Tyron Lue…

    • donlaker Posted: Feb.18 at 12:16 pm
      IVERSON did step over ty lue , i guess we cant blame lil penny for the orlando money crunch.
      brian cook give back some of your cash….

    • Mendel Posted: Feb.18 at 12:27 pm
      Iverson stepping over tyron lue is my desktop picture

    • Tarzan Cooper Posted: Feb.18 at 12:53 pm
      its tough out there for almost everyone

    • adams Posted: Feb.18 at 1:52 pm
      Will this be called the “Ra$hard Lewis bailout plan”?

    • Anton Posted: Feb.18 at 2:08 pm
      NBA should go into cost-cutting mode and trade all the sh*tty refs to Europe

    • Russ Bengtson Posted: Feb.18 at 2:24 pm
      Instead of signing LeBron to a max extension, Dan Gilbert should just give him the Cavs.

    • Blinguo Posted: Feb.18 at 3:13 pm
      Magic? Why didn’t the Sonics and now Kings get up on this free lunch? (apparently they are probably in that 15 but a few more years - prior of this and they would have been better off)

    • rav Posted: Feb.18 at 3:44 pm
      this means 2 things: 1. turkoglu is gone from the magic this summer and 2. teams are going to move/contraction of teams will occur

    • clapzilla Posted: Feb.19 at 3:26 am
      If Orlando Gets A Ra$hard Lewi$ Bailout, I Want A Kenyon Martin Bailout For The Nuggets.

    • dsleepy Posted: Feb.19 at 1:15 pm
      omg i died at doc funk’s comment

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