A couple of months back it was reported that the NBA, on behalf of its teams, was creating a $200 million line of credit with JPMorgan and other banks. More recently, Jamie Dimon of JP Morgan made a presentation to NBA owners in New York about the current recession and its effects. The fact that this is occurring during the NBA playoffs is indicative of how serious a concern this is.

According to NBA commissioner David Stern, “It was a very broad discussion that did not focus on sports...We have a business that is affected by every aspect of the economy.”

Also coming to light was a couple of the teams who have accessed the credit that the NBA has coordinated. This list included the New Orleans Hornets and the Indiana Pacers, who can no longer afford the expense of operating Conseco Fieldhouse.

This hasn't been the only time that sports league owners have turned to Wall Street for a play-by-play on the economy and finance. In November, former Federal Reserve Chairman Paul Volcker told Major League Baseball owners that it will take longer than many people expect to repair the economy.

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