BRADENTON, Fla. — Memphis is exploring its legal options, including a lawsuit, against the National Basketball Association’s Memphis Grizzlies if the NBA’s lockout develops into a full-season loss.

The City Council voted to look at taking action this week because taxpayers could be on the hook for debt-service payments on bonds sold to build the FedExForum where the Grizzlies play, though a diverse revenue stream securing the bonds is first in line to pay back the debt.

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