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Wilpon: The Mets are “bleeding cash”

File image of New York Mets chairman and CEO Fred Wilpon talking to reporters at a news conference in New York

New York Mets chairman and CEO Fred Wilpon talks to reporters at a news conference at Shea Stadium in New York in this October 1, 2002 file image. The owners of the New York Mets turned a blind eye to Bernard Madoff’s Ponzi scheme, and should give up roughly $300 million of fictitious profits they made from the now imprisoned swindler, a new lawsuit said. Irving Picard, the court-appointed trustee recovering money for Madoff’s victims, claims the partners at Sterling Equities, including the Mets’ Fred Wilpon, “were simply in too deep -- having substantially supported their businesses with Madoff money -- to do anything but ignore the gathering clouds. REUTERS/Jeff Christensen/Files (UNITED STATES) - Tags: SPORT BASEBALL BUSINESS CRIME LAW)

Reuters

There was a time, not too long ago, when if one were to suggest in a post on this blog that the Mets financial situation was dire, as opposed to merely being a troublesome, short-term cash flow annoyance, and that the Wilpons’ hold on the team was in serious jeopardy, as opposed to merely being subject to some moderate restructuring, that:

(a) a certain commenter who seems overly-invested in defending the Wilpons for someone not in their employ would show up here and claim that you were a fubulist; and

(b) the writer of such a post would receive emails from various people in official capacities claiming that he was being unduly harsh in his assessments with respect to the state of the Mets.

Given that Fred Wilpon is himself saying such things right now, however, I suppose it’s safe for me to pass this along from the New York Daily News without having to field such criticism:

The Mets are “bleeding cash” and could lose as much as $70 million this year, Fred Wilpon said in a story that will appear in this week’s Sports Illustrated. The embattled Mets owner told the magazine he fears the $1 billion clawback lawsuit filed by Irving Picard, the trustee who represents Ponzi scheme artist Bernie Madoff’s victims, could cost him ownership of the team if Picard prevails.

It is unknown whether, in the Sports Illustrated article, Wilpon once again loses the thread of the interview and slams Johan Santana or Francisco Rodriguez.