Kallas: Bernie And The Mets

By Steve Kallas
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With the unsealing of the mammoth, 365-page complaint in the Madoff bankruptcy case of Picard v. Katz, Wilpon, et al., there will be many things for the public, and especially, Mets fans, to digest.  But here’s the most Amazin’ (pun intended) thing:  Bernie Madoff could have been an owner of the New York Mets.

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Of all the crazy things that have already come out of the greatest Ponzi scheme in the history of the world (Madoff is doing 150 years in prison, unrepentant), this is perhaps the craziest.  But it’s all right there in the unsealed complaint filed by Irving Picard, the Trustee for the Liquidation of Bernard L. Madoff Investment Securities.

A reading of the complaint discusses the fact that Bernie Madoff invested at least $12 million in “Sterling-related investments.”  Sterling is defined in the complaint as Fred Wilpon, Saul Katz and others.  One of the investments offered to Bernie Madoff was partial ownership of the New York Mets.  Quoting from the complaint:

“The only time Sterling offered Madoff an opportunity to invest that he declined was in the Mets, when in 2002, Doubleday sold its 50% ownership of the Mets and Sterling offered Madoff partial ownership interests in the franchise.”

You can’t make this stuff up.

The complaint goes on to discuss the various investments that Madoff did invest in with the Sterling defendants.  But they are irrelevant to the general public compared with the notion that Madoff could have been a Mets owner.

While it is still unclear why this complaint was sealed in the first place (the offered idea that it was sealed so the parties could work out a settlement isn’t really a viable answer), one can make a good guess that nobody in the Mets organization wanted the word to get out that the architect of the biggest Ponzi scheme ever almost owned a piece of the New York Mets.

While this complaint will be read, analyzed, over-analyzed and discussed in the days, weeks, months and even years ahead, nobody will find anything more unusual (scary?) than the fact that Bernie Madoff, in 2002, almost became an owner of the Mets.


pixy Kallas: Bernie And The Mets
  • JB

    We Mets fans are looking to WFAN radio jocks for ridding this hallowed National League New York fan base of the tainted, corrupt Wilpons…FOREVER!! Craig, Smoozy, Boomer, we want you down in Port Saint Lucie with megaphones: “WILPONS MUST GO! WILPONS MUST GO! WILPONS MUST GO!” (think Egyptians in Tahrir Square calling for the ouster of Mubarak Come on, guys, you owe it to yourselves as media leaders and spokepersons for us beleagured Mets fans. For shame, Wilpons. Get the [bleep] out of town!

  • Ralphie from Bedsty

    Madoff’s family should take a cue from the kid that did himself a favor…no room for these people…no sympathy….rot Bernie boy, rot….

  • kevin

    nice to see the Wilpon, Madoff, and Noel kids whooping it up in a Greenwich restaurant this week.

  • Lou Scala

    heartbreaking for long suffering Met fans

  • marco

    wilpons need to sell all of the mets… it would be the best thing for the team and the fans …

  • Mets Fan

    The investors weren’t complaining when they were profiteering while everything else was tanking. They weren’t asking questions then.

  • F.U. Bloomberg

    I have no sympathy for these “blueblood” and “celebrity” investors who got ripped off by Madoff. They were involved in a “invitation” only secret club and were getting massive if not unbelievable returns. The ones who realized what was going on played the odds and jumped ship right before the crash with millions. The real greedy ones held out a little longer until it was to late. Now they want justice and there money back. Funny though when real people lost there money in the “legitimate” broker/ markets these sam “Madoff Secret Club” members couldn’t care less. Then when it happened to them all the sudden they want justice and reform. The secret club members got what they deserved. But as always in America, when the “elite” get fleeced the government falls all over themselves to make things right and get them there money. When the little people get fleeced we only wind up with the SHAFT.

  • JP Armayer

    Madoff probably turned it down because he didn’t want MLB sniffing around his books. He a crook, but not dumb.

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