It Must Be Mets Baseball Season – Bernie Madoff Is In The News

An article by posted on January 30, 2011

If any of you have the utter joy living in the Northeast I’m sure you’re well aware that this has been one of the roughest winters in a long time if ever. Six snowstorms including a major blizzard and we haven’t even made it into February yet.

The moment I walked into my local A&P it was as if I had stepped into an 80′s disaster flick. I swore I saw someone who looked like Charlie Sheen scream “Wolverines!” carrying a box of Hot Pockets in the frozen food section.

I witnessed more gallons of milk, loaves of bread and cartons of eggs leaving the shelves, that I realized either we’re having yet another blizzard or everyone in New Jersey is on a rabid French toast fix.

There’s nothing I want more than for Spring to be sprung already. Luckily we have just two more weeks to bear until pitchers and catchers report in Arizona and Florida. Of course being a Met fan, we all know Mets baseball season is around the corner when the familiar name of Bernard Madoff meanders his way into Mets news yet again.

Whether you consider this is news or not depends on your point of view I suppose and if you, like me, have heard this for quite some time already. It seems that the Wilpon family desire to bring in a minority owner (or owners?) to alleviate any possible financial effects non-baseball related issues have with Sterling Equities.

In layman’s terms, just in case the Wilpons owe more than Mr. Met’s blood to Irving Picard, trustee in charge of recouping the financial losses incurred by Madoff’s victims.

This is nothing new in professional sports. Teams tend to usually have majority and minority holders as Matt Cerrone points out over at MetsBlog. For those Mets fans who are fanatically desiring new ownership, the Wilpons bringing in a partner, by default, actually gives that idea a slight possibility.

It’s doubtful that the Wilpons would outright sell the franchise but then again, I’m sure everyone thought Bernie Madoff was just a shrewd investor at one point. And that the Madoff scandal had little if any effect on the Wilpons. Remember that line?  That’s where I have to part ways with a few of my other fellow bloggers.  Anything is possible.

I remember a time where I was lambasted by more than a few of my colleagues who said I was making a mountain out of a molehill, when I wrote a piece regarding the effects the Madoff scandal will have on the organization. Truth, like time, is slow moving but totally inevitable.

In a book by Erin Arvedlund, “Too Good To Be True”, the author took the position months ago that the Wilpons would end up selling the team. Kerel Cooper of the blog site On The Black was linked by the Wall Street Journal, when a video of Mets executive David Howard taped on the Fox Business Channel, had him totally refuting Arvedlund who’s prediction that the Wilpons were interested in selling the team. It was confirmed by the Wilpons themselves just a few days ago, of their intent on selling “a portion” between 20-25%, of the team while maintaining operational control.  That’s what we know, now.

Cooper made a great point at the time when he asked, “Why would Arvedlund make this stuff up?” I agree. In a time where libel suits are issued like parking tickets, I found and still find it hard to swallow everything the Wilpons have said regarding Madoff.  Be it their right to remain silent it still doesn’t bode well for any prospective buyers, willing to essentially loan the Wilpons a few hundred million in exchange for tremendous risk.  Joe D said it best in his piece the other day as well.

However the truth of the matter is – at this point – what can any of us do? I can’t agree with some of the fanbase, if you want to call them that, who have this burning desire to see the Wilpons fall apart like a house of cards.

As a Met fan I find it hard to understand why any supposed Met fan would wish that, even in spite of the Wilpon’s seemingly questionable business practices. We may never know, with any certainty, what the Wilpon’s motives were in regards to the entire Madoff situation. The case so far is sealed and all parties are refrained from commenting. I sincerely hope that whatever happens doesn’t effect the team on the field.

My God is it Spring yet?

About the Author ()

I'm just your regular Joe. Staff writer @ Metsmerizedonline.com. Happily married and a father to a baby girl. I attended my first Met game at the ripe old age of 3 where my father scored a foul ball and had it signed by Lee Mazzilli, Joe Torre and Joe Pignataro. It was my Holy Grail - 'till I buried it in the backyard. I have my own website where you can read my drivel at your leisure @ www.thespectorsector.net

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