Milwaukee Bucks Owner Herb Kohl Took Out $55 Million in Loans From NBA Credit Facility in 2010

by

Jun 27, 2011

Money is apparently tight for millionaire U.S. senators who own NBA franchises.

Democratic Sen. Herb Kohl of Wisconsin borrowed at least $55 million last year from the NBA's credit facility, the Milwaukee Journal-Sentinel reports. Kohl, owner of the Milwaukee Bucks, was one of 19 teams to borrow from the NBA last year.

Borrowing does not necessarily indicate financial struggles, according to the report, and "there is nothing significant going on," said Bucks vice president Ron Walter.

Still, the Bucks have been valued by Forbes magazine as the least-valuable team in the NBA, and league owners have engaged in a media campaign to convince fans they are having trouble making money coming off one of the most-watched seasons in memory.

It's a shame $55 million doesn't go as far as it used to.

PHOTO OF THE DAY

Do you trust this face?

Milwaukee Bucks Owner Herb Kohl Took Out $55 Million in Loans From NBA Credit Facility in 2010

QUOTE OF THE DAY

"I was like, what's a new goal for me? And that's why I told myself I wanted to set a record, to make 20 under."
–Yani Tseng, 22, on her goal after making the turn with a 10-stroke lead at the LPGA Championship on Sunday

TWEET OF THE DAY

No shame in wanting to avoid a 6-foot-4, 230-pound man.

Milwaukee Bucks Owner Herb Kohl Took Out $55 Million in Loans From NBA Credit Facility in 2010

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Center pocket.

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