— Days Without Shea —

Filed under: Baseball | Mets
by Kingman on March 6 at 8:22AM
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Looks like the Wilpon financial saga is about to get worse.

Judge Rakoff ruled the Wilpons "Must pay millions of dollars to the victims of Bernard L. Madoff's fraud and go to trial on the gravest accusation against them: that they blinded themselves to evidence that Madoff might have been up to no good during their many years of profitable investing with him."

The Wilpons could have to pay as much as $83M. And by going to trial, they will allow a jury to decide if they were guilty of "willful blindness;" that is, ignoring all the signs that Madoff was acting improperly when he produced such huge investment windfalls.

This graf pretty much sums up the state of the team:

"The Mets, having lost $120 million the last two years, made the biggest one-season payroll reduction in baseball history last fall. They signed no big-money players for the second straight off-season, saw their revenue at Citi Field shrink further in 2011, and have key players coming back from injuries or nursing new ones."

And now with a March 19th trial date set, the Mets are assured of having major off-field distractions to start the season. The Wilpons should do the noble thing and sell the team. Fight the charges if you must, but don't drag the team down with you.



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