While Mets Can Make Payroll, They Are Bleeding Cash

(By Evan Brunell — CBSSports.com)

Fred Wilpon is certainly making the rounds in the media lately.

A day after talking to the New Yorker and blasting players Carlos Beltran, Jose Reyes and David Wright, there is news that Wilpon spoke to Sports Illustrated and revealed the Mets are on track to lose up to $70 million, MLB.com is reporting.

The Mets are “bleeding cash,” as Wilpon says, and also notes that he should have a minority owner in place to purchase shares of the club for a price around $200 million, which would give the Mets funds to stay afloat, plus provide a cushion while the Bernie Madoff fallout is sorted out.

Speaking of Madoff, Wilpon admits he would be willing to settle a $1 billion lawsuit against him for an alledged role in Madoff’s Ponzi scheme — an allegation Wilpon steadfastly declines. Trustee Irving Picard is alleging that Wilpon knew that something was amiss with Madoff but did not take action.

For more baseball news, rumors and analysis, follow @cbssportsmlb on Twitter or subscribe to the RSS feed.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Los Angeles

KNX 1070 Newsradio
Play.It

Listen Live