The financially struggling Single-A Peoria Chiefs (Midwest League) could be saved with a $7-million restructuring plan that includes forgiveness of bond payments to the city, the purchase of ballpark naming rights by heavy-equipment manufacturer Caterpillar, Inc., loan reduction by banks, increased investment by team owners, and higher fees for Bradley University to use the facility. The deal must still be approved by the city council. Read more and view news clip here.
City, CAT, Banks Step Up to Save Chiefs
Filed under Money & Financials, Sponsorships & Advertising
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