NEW YORK: After missing revenue projections by $1.5 billion last year, the NBA recently sold $900 million in notes through private placement to institutional investors.
All 30 NBA teams will reportedly receive $30 million each from this amount to assist with COVD-19 related costs and missed revenue.
The league will likely disburse the money to teams ahead of the season, which tips off on December 22, Sportico reports.