From the NY Post:
JPMorgan Chase -- which led the banks that loaned the team about $430 million last year -- is trying to recruit other institutions to join a syndicate to put together a new loan that would tide the Mets over until they sell a minority stake in the ballclub.
The Mets' financial health has been imperiled by investments by its owner, Fred Wilpon, in Bernard Madoff's massive Ponzi scheme.
A well-placed source said both the Mets and Major League Baseball are exerting strong pressure on JPMorgan to make that loan happen.
The bank already has a tight relationship with MLB because it finances MLB operations.
Revelations about the proposed new loan comes days after it was revealed that, in late 2010, the Wilpon family borrowed $25 million from Major League Baseball -- which had previously loaned the Mets $50 million.