7/27 Money matters
According to the Wall Street Journal, bankers from J.P. Morgan Chase are hosting representatives of leading financial institutions at the Cubs’ game Tuesday. It’s an effort to syndicate about $450 million in loans that JPM, Citigroup and Bank of America are underwriting as part of financier Tom Ricketts’ efforts to buy the Cubs for nearly $900 million. Once the financing is complete, the Tribune Co., which has filed for bankruptcy and owns the Cubs, can submit the deal to the U.S. Bankruptcy Court for approval.
– Carrie Muskat