Mets/Wilpon caught up in hedge fund Ponzi scheme

[caulfield12]

Mets owner Mr. Wilpon, who also owns real-estate investor Sterling Equities, often raved about Mr. Madoff's investment prowess and invested tens of millions of dollars of both his own money and the team's with his company, say financiers who have worked with him. Mr. Madoff handled investments for the Judy & Fred Wilpon Family Foundation, which distributed about $1 million a year in 2005 and 2006 to charities, according to its most recent federal tax returns..

 

Mets spokesman Jay Horowitz declined to comment Friday. Mr. Wilpon's Sterling Equities said in a statement: "We are shocked by recent events and, like all investors, will continue to monitor the situation."

 

from wsjonline.com

 

Wonder how/when/if this will have an affect on the team?

 

[ThunderBolt]

Mets owner Mr. Wilpon, who also owns real-estate investor Sterling Equities, often raved about Mr. Madoff's investment prowess and invested tens of millions of dollars of both his own money and the team's with his company, say financiers who have worked with him. Mr. Madoff handled investments for the Judy & Fred Wilpon Family Foundation, which distributed about $1 million a year in 2005 and 2006 to charities, according to its most recent federal tax returns..

 

Mets spokesman Jay Horowitz declined to comment Friday. Mr. Wilpon's Sterling Equities said in a statement: "We are shocked by recent events and, like all investors, will continue to monitor the situation."

 

from wsjonline.com

 

Wonder how/when/if this will have an affect on the team?

Time for another name change to the park? How's about City/Taxpayers/Hedge Field?

[Kyyle23]

Time for another name change to the park? How's about City/Taxpayers/Hedge Field?

 

as well as planting a nice row of hedges in centerfield somewhere