New Ownership for the Mets?

Posted: February 15, 2011 by mikenic1 in Uncategorized

Everyday, more and more news about the ownership of the New York Mets continues to show the their present owners, the Wilpons, are likely to sell the team. Fred Wilpon, who has had ownership of the team since 1980 and 100% ownership since 2002 , appears to be on the verge on bankruptcy. Wilpon is being sued by families who have lost money to Ponzi scheme creator Bernie Madoff. The families are suing Wilpon for one billion dollars claiming that he profited from Madoff’s scheme. The Wilpon’s are prepared to take the case to court, where they could lose up to one billion dollars or spend millions fighting to win the case. However the case turns out, the Wilpons will lose a lot of money, which will then effect the operation of the New York Mets. The Wilpons have already put up a 25% stake in the Mets. This is not enough for most struggling and heartbroken Met fans (such as myself), who want the Wilpons to sell the entire team. Under the Wilpon’s ownership, the Mets and Wilpons have made a variety of bad investments, which is something the Wilpons seem to be prone to. Potential owners have been rumored to be Mark Cuban. Donald Trump, and Mike Repole. Whoever the new owners may be, Met fans will finally have an owner to believe in.

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