Memphis officials eye lost NBA revenue

Updated: October 18, 2011, 8:15 PM ET
Associated Press

MEMPHIS, Tenn. -- The Memphis City Council is asking its attorney to explore options for recovery of revenue lost during the NBA lockout.

A resolution adopted Tuesday says that the cancellation of the NBA season's first two weeks has caused the city to lose revenues that are used to pay the debt service on bonds issued by the city's sports authority to build the FedExForum, and public revenues may have to be used to cover the shortfall.

The bonds are paid with revenue streams ...

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