The New York Mets required a cash infusion of $25 million from MLB lines of credit last November after the team faced a cash-flow crisis and had tapped out its other sources of capital, leaving many to wonder how long Fred Wilpon and Saul Katz can keep control of the ailing franchise. That the Mets […]
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Citi Field debt downgraded by Moody’s because of Mets-Madoff connection
More bad news for Fred Wilpon and Saul Katz: debt of Citi Field has been downgraded by Moody’s because of concerns over ties between the New York Mets ownership and disgraced felon Bernie Madoff, as well as an impending clawback lawsuit. “While the ultimate outcome of the litigation and the timeframe for final resolution are […]
Cuban: I’ll listen if the Wilpons want to sell me a chunk of the Mets
With the finances of the New York Mets increasingly under siege, Dallas Mavericks owner Mark Cuban says he’s interested in investing in the team — but he needs to be sold by the Wilpons on the move. That’s sure to impress MLB owners. From the New York Post: “If they want to sit down and […]
Wilpons explore selling minority chunk of Mets
Fred and Jeff Wilpon are looking at selling a minority share of the New York Mets due to financial complications due to their family firm’s investments with Bernie Madoff, as they face a potential clawback lawsuit from the court-appointed bankruptcy trustee. The following statement comes from Fred Wilpon, Chairman and Chief Executive Officer of the […]