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Nets Borrow $20 Million from NBA

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The Nets' biggest shareholder has borrowed $20 million from the NBA, the maximum, and used it to lower costs on existing debt. The NBA last month secured $170 million from two lenders to help teams cover operating costs. Forest City, controlled by the Ratner family, used its $20 million share to restructure an earlier $65 million loan. The team is losing tens of millions a year with Forest City funding the losses.