Monday, March 5, 2012

Brother Can You Spare 83 Mil?

The Mets financial woes continue.
A judge in New York ruled that the team owes 83-million dollars to the trustee recovering money from investors who were defrauded by scammer Bernard Madoff.
The trustee must now prove that the Mets turned a blind eye towards Madoff's schemes since they were making money.
It's pretty convoluted but the sentiment is that there is no way Fred Wilpon, the owner of the team, didn't know what was going on with Madoff and his criminal actions.
U.S. District Judge Jed S. Rakoff said a year ago that the team won't owe more than 386-million to Madoff investors. That must be comforting.
The Mets will likely be a bad team on the field. The aura of the new stadium has worn off and profits from the new park, which opened in 2009, are down. It's a stadium that has been criticized by Mets fans, everything from being over commercialized and pricey with poor sight lines. Some even pine for torn down Shea Stadium.
Overall, the Mets continue to be a mess on and off the field. Fans want the Wilpons to sell the team while the father and son duo says they have no plans to sell.
It must be tough to be a Mets fan these days.

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