Sure they are probably $9 billion in debt, but look at the revenues of the league and the value of the franchises. That works out to about $300 million/team.
Each franchise is worth somewhere around $1 billion, so the 9 billion in debt isn't that much compared to the value of the teams themselves.
Or compare it to the revenue of the league.
They take in over a billion/year just on TV.
Add to that the tickets, merchandise, and other revenue streams, and they are probaly in better shape than a lot of businesses.
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