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The turbulent economy may slow down Sprint's closely watched efforts to create a nationwide WiMAX network, with its $14.5 billion Clearwire joint venture now appearing likely to need an additional $2 billion in financing.

The project, which saw Sprint Nextel forming a joint venture with Clearwire to roll out a nationwide WiMAX network under the Clearwire brand, officially kicked off in September by launching WiMAX service in Baltimore. To date, the venture has received $3.2 billion from big-name investors including Comcast, Google, Time Warner, Bright House, and Intel, in addition to billions pledged by Sprint.

But just days after the No. 3 U.S. wireless carrier signed the final documents creating the joint venture, Clearwire's newly minted CEO, Benjamin Wolff, indicated in a Reuters report that the sluggish credit market is making it harder to obtain funding for the project.

As a result, Clearwire may cope by slowing its build-out of the network, Wolff said.

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