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How much did Mets owner Fred Wilpon know about Bernie Madoff's ponzi scheme, and how can he prove it?

Believe it or not, most of our writers didn't enter the world sporting an @baseballprospectus.com address; with a few exceptions, they started out somewhere else. In an effort to up your reading pleasure while tipping our caps to some of the most illuminating work being done elsewhere on the internet, we'll be yielding the stage once a week to the best and brightest baseball writers, researchers and thinkers from outside of the BP umbrella. If you'd like to nominate a guest contributor (including yourself), please drop us a line.

Howard Megdal is the Lead Writer for the LoHud Mets Blog and Writer At Large for Capital New York. He covers baseball, basketball, and soccer for these and numerous other publications. His new book, Wilpon's Folly, from which much of the following text was drawn, is available as an e-book at Amazon.com and Barnes and Noble. Follow the LoHud Mets Blog on Twitter @lohudmets. Follow Howard on Twitter @HowardMegdal.

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February 13, 2012 3:00 am

Bizball: Mets Shell Game with Money May Stave Off Take-Over


Maury Brown

A look at the Mets' financial situation and how they could turn the ship around

With Sandy Alderson’s foray into Twitter the exception, these are dark times for the Mets. Besieged by Irving Picard (the trustee in the Bernie Madoff case), declines in attendance, and (as a result) a decline in cash flow, the Wilpons and Saul Katz (aka Sterling Equities) are throwing everything but the kitchen sink in front of the door to block a takeover.

Most Mets fans are at the point where they’d like nothing more than to see new ownership take over the club. Such is sports. While Sterling strikes one as part of the “1%” for ownership, they view the Mets in much the same manner that homeowners across the country feel about their home that’s teetering on the edge of repossession. Anything and everything is being done to try and protect it, which means moving around assets, restructuring loans, and bringing in what little fresh money can be found through minority investments.

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