We all knew things were tough all over these days, but this is somewhat shocking. The NBA took out a loan of $175 million from J.P. Morgan to then give to ailing franchises. Turns out 15 of 30 teams need some form of assistance.
I mean, ticket sales were reasonably depressed, but who saw this coming? I know this is purely speculative fiction, but what if a team defaulted and J.P. Morgan seized a team? Come to think of it, what if J.P. Morgan seized the NBA?
Alright, so that's not going to happen, but it's strange and disquieting to see so many seemingly impervious institutions rocked by this economic reset. It's the kind of climate that could see teams changing hands to owners that can handle the "burden" of a professional sports team. Maybe we'll see more teams on the move, to locations with more favorable venues and a better cut of the profits. Hopefully our Senator's loyalty to the state he represents keeps the Bucks home, but it's hard not to shiver every time people talk about the future of the NBA in Seattle or Vegas.