11.11.08 THE COWBOYS’ NEW STADIUM IS F’D

Jones has offered to shake his ass for as little as $20 million

You know that billion-dollar stadium that Jerry Jones is building for the Cowboys?  Turns out he needs a liiiiiiiiitle more money to pay for it.

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.

I’m no financial guru, but I think if I were building something that cost $1,200,000,000, I wouldn’t want to see the words “borrow,” “worst credit environments in the nation’s history,” and “imploded” in the same news article.  I just can’t find a combination of words that makes that sound like good news, unless it was “They don’t need to borrow any money, because it isn’t the worst credit environment in the nation’s history, and nothing has imploded.”  But that doesn’t really sound like AP Style.