New York Mets might have lost big Money in that $50 billion in a Ponzi scheme

[Ichingcarpenter]

The company that owns the Mets was one of a handful of ultra-wealthy investors prosecutors say were duped by Wall Street wheeler-dealer Bernard Madoff.

Sterling Equities, which owns the Mets, the Brooklyn Cyclones and major real estate developments in New York and Florida, confirmed it had invested money with Madoff.
The company would not say how much it had invested, how much might have been lost or how if it would affect the Mets.

"Among our various investments, we have accounts managed by Madoff Securities," the company said in a statement. "We are shocked by recent events and, like all investors, will continue to monitor the situation."

http://www.nydailynews.com/news/ny_crime/2008/12/12/2008-12-12_mets_owner_fred_wilpon_may_have_been_big.html


I liked it back when Teams were owned by the City and the people.

[anigbrowl]

1. owned by the city and the people?

Um, I suppose it counts as people but the Mets have always been privately owned, just like the Yankees and most other teams. Owned by people, but quite wealthy people...I'm not aware of any community or publicly owned baseball teams, at least in the major leagues.

[malaise]

5. I think the Green Bay Packers are the only

team in American sports that is owned by the community.

[Ichingcarpenter]

6. Green Bay Packers are the last team like that

Sports Franchises used to be owned by either the city or county
in sports history, although at times, it was a dual partnership with corporations.

Stadiums were owned by the City not named after Corporations, that's the new trend.

[Trajan]

2. I am not surprised ...

The Mets have found many thousands of ways to lose ...

[BrotherBuzz]

3. The Packers are the only non-profit, community-owned major league professional sports team in the US

[Captain Hilts]

4. Good grief! Where's the Doubleday family when we need them?

[Blue_Tires]

7. i blame omar

[sarcasmo]

8. Or when you knew it was Whitaker and Trammell as the double play combo year in and year out.

[Ichingcarpenter]

9. Who owns the Mets' Stadium and what is its Corporate name?

Don't know much about the east coast.

[THUNDER HANDS]

10. you wouldn't believe me if I told you