The NBA reportedly plans to raise its credit line to $1.2 billion in response to its hiatus caused by the global coronavirus pandemic.
The measure would aid the League’s finances in what could be a months-long shutdown.
The NBA’s credit line has been $650 million in normal times.
Per ESPN:
The NBA discussed the plan on a call with the league’s board of governors Tuesday, a meeting that included former Surgeon General Vivek Murthy delivering a grim forecast for the pandemic’s potential impact on the United States and further convinced owners that there could be no resumption before June — if that is even possible, sources said.
Murthy told the board of governors that he was more optimistic in recent days, once state officials took the lead in trying to mitigate the transmission of the virus, sources said. Murthy’s words were consistent with those of other credible health officials, warning those on the call that the worst is yet to come.
“Basically, [Dr. Murthy] said: The only good news is that people are starting to stay home,” one high-ranking league official told ESPN. “No one left that call thinking we could be playing anytime soon.”
The NBA has been considering numerous contingency plans, which include playing only several more regular-season games and shortening early playoff series from best-of-seven to best-of-five, but everything remains fluid, sources said.
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