Mets inching closer to major financial issues?

It has been noted that the New York Mets are not in the best of financial situations, especially in regards to their cash flow.

Things got even worse when victims of the Bernie Madoff ponzi scheme filed a $303 million lawsuit against the owners of the Mets who had taken money from Madoff to help support the team.  The Mets lost an important ruling in federal court today, with the judge ruling that the Mets must show that they didn’t know about Madoff’s ponzi scheme.

The above linked story notes that the Mets lost over $70 million last year, were ordered to repay $83.3 million of profit from a fictitious Madoff company, and still face another $303 million if they can’t prove they had “willful blindness” to Madoff’s financial schemes.

I’m sure Bud Selig and the MLB front offices do not like what is going on.  After the Dodgers financial debacle, I’m sure the last thing they want is the Mets also having to go into bankruptcy as well.


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