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💨IMPACT LEVEL 1 — MEH

Epstein File EFTA01399438: JP Morgan and MBS (DS10)

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This document contains preliminary loan terms for a Carolina Panthers NFL franchise acquisition with Deutsche Bank AG and JP Morgan as lenders offering up to $500 million in commitment. The borrower is a newly formed holding company to be owned by Ben Navarro and affiliates, with JP Morgan valuing related assets at $1.1 billion. The document includes background on Navarro's career, including his work at Goldman Sachs on mortgage-backed securities desks.

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stake in the Carolina Panthers National Football League (NFL) Franchise, preliminary terms and conditions are as follows: Lender Deutsche Bank AG, NY & **JP**
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**Morgan** DB Commitment Up to $500MM Borrower TBD - Newly formed Holding Company to be 100% owned by Ben Navarro and affiliates Guarantors / Pledgors Ben
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**JP** **Morgan** recently valued them at $1.1B. 9th largest MasterCard/Visa issuer, with over 9 million customers, portfolio totalling approximately $5.8B The

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