Tuesday, March 6, 2012

Who wants to buy some shares in a last place baseball team?

The New York Metropolitans are looking like a serious threat this year, to dislodge the Washington Nationals from last place in the NL East. After Mets owners Fred Wilpon and Saul Katz wore the golden sombrero in court yesterday those shares in the Mets might be rapidly dropping in price. Federal Judge Jed Rakoff said that the Mets owners as part of being bilked in the Bernie Madoff scam have to pay at LEAST $83 million dollars to Madoff victims. That's $83 million as a starting point. If they lose the next court case in which they are trying to prove they were "willfully blind" to Madoff's financial chicanery that total could go much higher.

Not being able to keep top talent like Jose Reyes is just one impact of the Madoff Ponzi scheme, having to sell minority shares in the team is another. The Mets are trying to sell 12 shares for $20 million dollars, though after this crushing court loss yesterday that buy-in number should be dropping in 5,4,3,2,1...

So come on out to Debits Field and watch some Metropolitans baseball this season. The first 100 fans entering Debits Field able to throw 80+ on the radar gun could well win a minor league contract!

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