Shocking Speculation

[Backtobanks]

From MLBTR:

 

Newsday's Ken Davidoff hears from a source "in the loop" that when Matt Holliday hits free agency, the outfielder's top choices are the Yankees and the Mets.

 

Boy, I wish I had a source "in the loop" like Davidoff has. Memo to Ken Davidoff: It's called "follow the money".

[Cubswin11]

The thing is with the Yankees, again like last year, they got a pretty good chunk of money coming off the books. Matsui, Damon, Pettitte and Nady are all FA and they probably won't be bringing any of them back, they clear about $40 mil. with those 4 coming off. So they could easily fit a Bay/Holliday contract in without payroll going up, they could also go after Lackey, Hudson, Bedard or Harden and be around where they are this year.

[Peoriaman]

The Madoff Mets dom't have the money they used to....

[Backtobanks]

The Madoff Mets dom't have the money they used to....

 

From ESPN:

Mets made $48M from MadoffComment Email Print Share ESPN.com news services

 

The owners of the New York Mets baseball team made about $48 million in dealings with swindler Bernard Madoff, court documents showed.

 

The Mets Limited Partnership, which is connected to the Wilpon family, led by Mets owner Fred Wilpon, deposited $522.8 million in two accounts with Madoff and withdrew $570.6 million, according to a Monday filing by court-appointed trustee Irving Picard.

 

The Mets could not be reached immediately for comment by Reuters.

 

Earlier this year, Erin Arvedlund, author of "Too Good to Be True," a book on Madoff, said the Wilpon family would be forced to sell the Mets due to huge losses suffered in the Madoff swindle.

 

The Mets had said Arvedlund has no knowledge of the team or its finances and repeated previous statements that the team was not for sale.

 

"As has been stated previously, this has no effect on the operations of the New York Mets," the team said, according to The Wall Street Journal.

 

Wilpon bought a stake in the Mets in 1980, raised his share to 50 percent six years later, and purchased the rest with his family and others in 2002.

 

The case is Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC, U.S. Bankruptcy Court, Southern District of New York, No. 08-01789.

 

Picard, the liquidator appointed by the court, has filed lawsuits against some Madoff investors who profited from the Ponzi scheme, seeking to recover approximately $15 billion. The Mets Limited Partnership hasn't been sued.

 

Bradley Simon, a former federal prosecutor who is not involved with the case, told Bloomberg that he expects Picard to try to recover the money from the Wilpons.

 

"It cannot be argued on Wilpon's behalf that these were legitimate investment returns," Simon told Bloomberg. "It would be a violation of his fiduciary duty for Picard to not seek the return of that money."

 

Information from Reuters was used in this report.

[Peoriaman]

That is the Met's limited partnership. The Mets owner, Wilpon, lost huge money. There is serious speculation inside baseball that the Met's big spending days are over.

[Backtobanks]

That is the Met's limited partnership. The Mets owner, Wilpon, lost huge money. There is serious speculation inside baseball that the Met's big spending days are over.

 

The Mets won't last long in NY if they can't spend big time.

[jersey cubs fan]

That is the Met's limited partnership. The Mets owner, Wilpon, lost huge money. There is serious speculation inside baseball that the Met's big spending days are over.

 

The Mets won't last long in NY if they can't spend big time.

 

They'll last. There are plenty of fans who have lived through some really horrible teams, and the revenue remains.

[SouthSideRyan]

That is the Met's limited partnership. The Mets owner, Wilpon, lost huge money. There is serious speculation inside baseball that the Met's big spending days are over.

 

The Mets won't last long in NY if they can't spend big time.

 

Yeah, they'll probably move to Portland.

[Guest]

The Wilpons might not last, but the Mets will.

 

I don't know about the Madoff speculation. It seems counter to the fact that the Mets made so much money. Either way though it won't matter if the courts decide they have to pay back the money they made. That doesn't make much sense to me either, but I don't understand the whole Madoff business. Apparently some people make out like bandits.