NBA Raising $254 Million for Teams, Bringing Debt to $7.4 Billion
The National Basketball Association is raising $254 million this week backed by national media revenues, according to a ratings opinion issued by Fitch Ratings on…
Debt
MLB Owners Have Cash for a Season-Long Lockout, Fitch Ratings Says
Major League Baseball owners have enough money to weather a 2022 without baseball, should their lockout of players stretch that far, according to a note from Fitch…
NFL Selling Fresh $275 Million Debt, Rolling Billions More
The National Football League is selling $275 million in debt to pay off some existing obligations, provide working capital and fund general corporate purposes. The…
Sports Leagues Brush Off Pandemic as Business Model Thrives
The major sports leagues led by the NFL, NBA and MLB, have made it through the pandemic seemingly in fine financial health, as rising values and fan support forestalled…
Man City Owners Raise $650 Million in Boost to NYCFC Stadium Hopes
Abu Dhabi-based City Football Group, which owns sports clubs on four continents, including this year’s Premier League champion Manchester City and MLS’ New York City…
MLB Adds $1.9 Billion to Available Credit, Raises $102 Million in Debt
Major League Baseball is expanding its available credit by more than $1.9 billion and is raising $102 million in senior secured notes, according to a ratings note from…
NBA Selling $193 Million Debt for Teams, Backed by Media Dollars
The National Basketball Association is selling $193.2 million in senior secured notes today, as teams tap national media rights flows for working capital. The NBA’s…
ALK Capital Buys Burnley With Aggressive Debt Structure, Doubts Exist About Their Ability to Service Loans
Back on Dec. 31, Alan Pace’s ALK Capital closed on its acquisition of the English Premier League club, Burnley F.C. The deal, which reportedly valued the…
Teams Hobbled by League Debt Rules Amid Low Interest Rates
Interest rates are at historically low levels. The current 10-year U.S. Treasury rate is under 1%. Because the NFL, NBA, NHL and MLB maintain low limits on the amount of…
Banks Waiving, Amending Covenants so Team Owners Can Remain in Compliance with Loans
Team owners across the sports ecosystem borrow money to fund the purchase of clubs, cover operational expenses and build new venues. The bank loans or private placements…
NBA Extending $1.2 Billion Borrowing Program After 2020 Losses
The National Basketball Association is seeking to extend its $1.2 billion league-wide borrowing program out two more years than originally structured, to October 2023…
Exclusive
MLB Debt Totals $8.3 Billion as Manfred Mulls Options for Next Season
ARLINGTON, Tex. – Major League Baseball’s 30 clubs have amassed an unprecedented $8.3 billion of debt from their various lenders and will post $2.8 billion to $3 billion…
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