So…the NY Mets ARE for sale after all
I take no pleasure in witnessing all the heartache generated by Bernie Madoff’s heinous crimes. His theft never should have happened on the scale it did; some investors have even committed suicide over their losses.
So when a front-office source from the New York Mets baseball organization told me in summer 2009, as the fallout from the Madoff affair cast a larger and larger pall, that the Wilpons, the long-time family owners of the team, would likely have to sell at some point, I didn’t expect it to create a firestorm. Which it did at the time.
Today, however, the Wilpons finally admitted what any business savvy person could have guessed: they’re willing to sell a minority stake in the Mets. I’m speculating that their business empire is pressed on both sides, likely from the Madoff trustee’s demands for a settlement/payback of Ponzi-profits and from lenders in their real estate business.
I’m only as accurate as my very best sources.