Pro Basketball News

NBA approved to renew credit facility (AP) (sports.yahoo.com)

Lenders have renewed the NBA's league-wide credit facility, from which 17 of its teams have borrowed $2 billion since it was established in 2003. The NBA said on Monday that approval of the credit by a group of banks led by J.P. Morgan shows confidence in its teams. Twelve teams were loaned between $13 million and $20 million this season when investors made additional money available despite the...