Thread: Industry watches as Cowboys look for loan

http://www.sportsbusinessjournal.com/article/60527

[size=12pt]Industry watches as Cowboys look for loan [/size]
By DANIEL KAPLAN
Staff writer
Published November 10, 2008

The Dallas Cowboys are seeking to borrow $350 million by Dec. 1, according to numerous finance sources, in one of the worst credit environments in the nation’s history.

The club’s proposed deal would refinance $126 million the team borrowed last year through the now-imploded auction-rate securities market, as well as add new debt to cover cost overruns at the team’s $1.2 billion stadium that is set to open next year, the sources said.

“Everyone is looking at the Cowboys’ deal. It is a huge bellwether,” said one finance source. “This is one of the only deals, period, in the market [sports or otherwise].”

Perhaps Jerry wouldn't need this additional loan restructuring if he spent less money on facelifts and bad tanning machines.

=Z=

Thanks for the link.

Here is some more NFL info:

http://www.sportsbusinessjournal.com/article/60528


The NFL rolled its $1.4 billion credit line into a four-year term loan, meaning that unless the deal is refinanced, the league will have to pay back $350 million in 2011, the year the sport could be locking out its players, and the remainder of the loan in 2012.

The deal’s structure could also mean that some teams, in anticipation of the principal payments, could begin setting aside cash by 2010, the year there would be no salary cap if the league’s labor deal were not renewed before that season

Throw the Vikes some bones so we can stay here!