Major League Baseball is the latest sport to confront the harsh reality of the global credit crisis, with the league’s $1.5 billion credit facility set to expire Dec. 8.
The NFL last month decided to let its loan pool terminate, automatically converting it into debt with accelerated principal payments. But unlike the NFL, whose first payment is not due until 2011, if MLB does not refinance, it will have to begin making some principal payments as early as next month, finance and baseball sources said.
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