Monday, December 15, 2008

Madoff's Ponzi scheme hits the Mets

For those not tuned into the remarkable $50B Ponzi scheme collapse, it's hit Mets' ownership hard:

But interviews Saturday with several people with knowledge of Wilpon’s business dealings revealed concern about significant problems that Wilpon and the Mets could encounter because of the reported fraud. Although it is unclear how much money Wilpon may recoup, any significant financial loss by a team owner raises questions about how those losses may affect the franchise.

1 comment:

Anonymous said...

Had the yankees been swindled out of 500m dollars, I'm sure it would be the biggest story ever and somehow spun into the 2009 payroll. I couldn't be more delighted to hear of such "amazin' incompetence".