NBA giving each team $30 million to help with finances during pandemic

The NBA is doing their part in helping franchises financially during a pandemic that has shaken up the sports world and economies across the world.

According to reports, the league is giving each franchise $30 million as a way of helping them through these difficult times of playing in front of no fans or attendance (which equals up to 40% of total revenue). They are using some of the $900 million they have raised via notes issued in the private placement market to pay each of these teams.

The NBA will have 3-4 years with interest to pay it all back.