NEW YORK, May 4 – The National Basketball Association announced today that all 15 lending institutions have approved the annual renewal of the NBA’s Leaguewide Credit Facility led by J.P. Morgan. Seventeen of the NBA’s 30 teams have borrowed $2 billion under the Facility since it was established in 2003.
“The renewal of the credit facility demonstrates the lending community’s continued high level of confidence in the financial strength of the NBA and the value of our teams,” said NBA Chief Financial Officer Robert Criqui.
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