Monday, June 27, 2011

The Curious Story of The L.A. Dodgers, J.P. Morgan and a Pawn Shop Loan

According to the WSJ Deal Journal, the Los Angeles Dodgers turned to a hedge-fund manager owned by J.P. Morgan Chase & Co. to finance its operations–including meeting player payroll this week–while embattled owner Frank McCourt maneuvers to retain control of the baseball team through a bankruptcy proceeding.

Highbridge Principal Strategies, a unit of J.P. Morgan-owned Highbridge Capital Management, is extending a lifeline to the Dodgers is the form of a $150 million loan, according to papers filed Monday with the U.S. Bankruptcy Court in Wilmington, Del. The funding, which is subject to court approval, would allow the team to cut checks to its current roster,…..

Find the solution to the mysterious doings at:
http://blogs.wsj.com/deals/2011/06/27/the-los-angeles-dodgers-j-p-morgan-and-a-pawn-shop-loan/

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