Comments on: NY Times: Wilpons Could Owe One Billion Dollars

By: Mr North Jersey

Mr North Jersey — Sat, 05 Feb 2011 18:10:27 +0000

Thanks but I will just wait to see what the courts say what anyone should or should not have knowm.

By: BOBinNH

BOBinNH — Sat, 05 Feb 2011 17:43:05 +0000

1- The Wilpons took more money out than they put in.
2- The Wilpons used his unrealistic (not too high, but WAY too steady) returns as collateral to borrow money to make other investments (and more profits).
3- The laws about profits from fraud are clear. The Wilpons had enough experience themselves, and indications from other people (inside and out of their organization) that they can be seen as having turned a blind eye. (YES- if you’re going to inverst money you do have a duty not to turn a blind eye when a reasonable person in your position [experience, etc] would have started to doubt and ask questions re madoff returns).
4- The Trustee can ask for all profits- which includes profits on profits, profits on loans using future returns as collateral.

By: JPMorgan Looks Like The Link Between Wilpon, Mets And Madoff | Free Movie Factory

Fri, 04 Feb 2011 10:15:39 +0000

[...] a dividend. and Wilpon had also allegedly invested his team’s money with Madoff. I am [...]

By: francis

francis — Sun, 30 Jan 2011 16:39:06 +0000

he siphons money from his companies into his own bank account.

those companies are so saddled with debt, they are constantly on the brink of bankruptcy.

that’s his m.o., and that’s what he would do to the mets.

and he would change the name to the trumps, and change the uniforms to black red and gold.

By: francis

francis — Sun, 30 Jan 2011 16:31:15 +0000

that’s exactly my point. he stays solvent, while his companies turn to dust.

and more than one of his companies have declared bankruptcy.

and that’s exactly what he would do to the mets. suck every dollar out of them for another wife and gold plated toilet seat.

trump owning the mets, worst idea of all time.

By: theonlymaskman

theonlymaskman — Sat, 29 Jan 2011 21:47:02 +0000

I think Jerry Seinfeld is a great idea for the new owner. If Jerry was the 100% owner, then we could have George for GM, Kramer could be the field mgr, Newman could be the equipment mgr and moonlight as Mr Met, Elaine could redesign the uniforms and manage the souvenir stands, and Mr Peterman could run the concessions. Of course, the best thing of all, Elaine could reawaken her relationship with Keith, if she could get him to apologize to Jerry for the magic loogie.

(Note to North Jersey: I’m just kidding and you don’t have to bother to shoot down my thesis.) However, Jerry would be a better owner than the Wilpons.

By: theonlymaskman

theonlymaskman — Sat, 29 Jan 2011 21:35:36 +0000

Just perhaps, and this is only a perhaps, Picard contends that the Wilpons purchased the Mets from Nelson Doubleday with proceeds obtained from Madoff. Then it could be argued that they were not entitled to actually own the Mets and must restore the appreciated value of the entire franchise to the restitution fund. That’s just a wild guess, but perhaps that is how you arrive at a bill for $1 Billion in restitution.

By: Clayton Collier

Clayton Collier — Sat, 29 Jan 2011 20:12:39 +0000

I did before… toward the bottom. Id love to see him run the team

By: paul nassau

paul nassau — Sat, 29 Jan 2011 20:09:11 +0000

Did anyone say “Donald Trump”?

By: stick

stick — Sat, 29 Jan 2011 19:28:45 +0000

he didn’t go bankrupt. one of his companies did. Big difference.

By: Clayton Collier

Clayton Collier — Sat, 29 Jan 2011 19:21:31 +0000

Hes one of the best businessmen in the country. Hes a multi-billionare and it is a new face. weve seen the Wilpons for over 30 years. If hes wants to make the most money he can, he would buy the Mets and make them a championship team. Steinbrenner made billions off of the Yankees success, maybe Trump would like to do the same with the Mets.

By: francis

francis — Sat, 29 Jan 2011 19:15:07 +0000

you really want trump ?

he would rename citi field trump field, have a big giant T mowed into the centerfield grass, and have ivanka as the GM and donald junior as the manager. in short, run it like everything else he does: put his kids in positions they don’t belong, slap his name on everything, and charge double for the value of the trump brand.

also, he’s the only guy who can actually run casinos into the ground. is it strange to you that his casino lost millions and he somehow has millions ? some people would call that embezzling. he’s already went bankrupt once, and will no doubt be there again.

By: t agee

t agee — Sat, 29 Jan 2011 19:05:00 +0000

Some of who are undoubtably, formerly wealthy.

By: Clayton Collier

Clayton Collier — Sat, 29 Jan 2011 19:03:57 +0000

Id like to see donald trump (longshot) or a group headed by Seinfeld make it in… If Jerry Seinfeld became a partial owner he would probably ban Lady Gaga from Citi Field after that whole suite incident lol

By: mets2012

mets2012 — Sat, 29 Jan 2011 18:45:57 +0000

Seinfeld is Mets fan , very rich and has many weathy friends

By: theonlymaskman

theonlymaskman — Sat, 29 Jan 2011 17:25:41 +0000

Francis, Count me in on that club.

By: theonlymaskman

theonlymaskman — Sat, 29 Jan 2011 17:24:02 +0000

Annie, Not any news to me either. I see this report as a vindication of what I said over a month ago, even though there were legions of deniers. It is my belief that the handwriting is now on the wall. The Wilpons are dealing from a position of weakness not strength. That is never a good situation when you are trying to make a deal of any sort. This is a case of weak hands selling. Strong hands will take advantage of that situation. They may like to get a good price for a minority position in the Mets. The end result is rather obvious now. It is inevitable that the Mets will be sold in entirety. Who in his right mind would bail out the Wilpons in the precarious position they now find themselves? Selling a minority position is just too easy a solution and is just wishful thinking. It will not happen and a 100% new owner is just around the corner. Only time will tell and I, for one, can’t wait.

By: Markcomic1

Markcomic1 — Sat, 29 Jan 2011 08:47:36 +0000

I saw this coming, I think may folks did, and when it came out that the Wilpons were one of the few to actually gain during the Madoff ponzi Scheme , i knew it would come back to haunt the. The best thing they could do, is sell the team.. It is the one thing they have of value that can possibly cover what they are about to be sued for and it would also be best for baseball and the mets franchise..

Also if it ever is found out they knew what was going on, the Wilpons are finished..

Long Live New NY METS OWNER MARK CUBAN!

By: mets2012

mets2012 — Sat, 29 Jan 2011 05:58:41 +0000

What ae you?
Wilpons are in deep sh1111ts.

By: mets2012

mets2012 — Sat, 29 Jan 2011 05:55:48 +0000

whatever.