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Jerry Jones Would Like To Borrow Some Money if That's Okay ... Just $350 Million

11/11/2008 2:40 PM ET By Shane Bacon

    • Shane Bacon
Sure, the Dallas Cowboys are currently in a team crisis the likes we haven't seen since that star-stricken Lakers team, but good news is still around the corner. You know, that new billion dollar stadium Jerry Jones is getting ready for next year.

Yeah, it's supposed to be state of the art and shouldn't have any problems being finished ... oh. Wait. There's this.

The Dallas Cowboys are seeking to borrow $350 million by Dec. 1, according to numerous finance sources, in one of the worst credit environments in the nation's history.

The club's proposed deal would refinance $126 million the team borrowed last year through the now-imploded auction-rate securities market, as well as add new debt to cover cost overruns at the team's $1.2 billion stadium that is set to open next year, the sources said.

Well, I guess Jones could call his billionaire friend T. Boone Pickens up in Oklahoma and see if he'd help out with some of the money problems. Oh yeah, I forgot about this. That probably won't work.

I guess it is time to clarify this. The Dallas Cowboys have an injured star quarterback, a suspended cornerback, an unhappy star receiver, an overworked running back, a coach that looks better suited to be a member of the Wiggles, a schedule tougher than four-year-old beef jerky and now a stadium that doesn't have enough funding to be finished.

Think alcohol sales are up in the Valley Ranch area? I'm going with yes, yes they are.

(HT With Leather)

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