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Your quick and dirty guide to the Wilpon-Madoff mess

Feb 7, 2011, 12:37 PM EDT

Fred Wilpon, Jeff Wilpon

Over at MLB Trade Rumors, Howard Megdal has put together a very handy bullet point summary of everything a baseball fan needs to know about the Bernie Madoff-Mets fiasco we spent much of last week discussing.

I think the key point to all of this is the stuff Howard cites — with linkage goodness — explaining how, even if the figure the bankruptcy trustee is seeking is on the low end, the amount of liability we’re talking about here and the degree to which the Wilpons have already gone into debt for the Mets’ sake renders a partial sale almost laughable as a workable plan.

In any event, as news happens we’ll continue to tackle it in detail. But Howard’s primer is probably bookmark material if you care about this case or the effect it will have on the Mets.

  1. Mr. Jason "El Bravo" Heyward - Feb 7, 2011 at 1:18 PM

    Are the Mets too big to fail?

    • Utley's Hair - Feb 7, 2011 at 11:12 PM

      Absotively not. Have you SEEN them over the last few seasons?

  2. yankeesfanlen - Feb 7, 2011 at 1:19 PM

    Oh, sure. I’ll go for a non-controlling interest for an $850M team mortgaged for $700M with untold governmental liabilities. Sign me up for some of that pre-Stimulous GM “commenorative stock” as well

  3. phantomspaceman - Feb 7, 2011 at 1:21 PM

    If a majority sale of the Mets does eventually happen, I really hope it’s to someone who really cares about baseball. I’m a die hard Yankees fan, but not the “rrghh METS SUCK YANKEES RULE” kind. It’s been painful to watch the Mets these past few years and I’d really like to see them rebuilding some sort of competitive team.

  4. Jeremiah Graves - Feb 7, 2011 at 1:21 PM

    Forget Mark Cuban…let’s get Zuckerberg in here pronto!

  5. PanchoHerreraFanClub - Feb 7, 2011 at 1:28 PM

    I guess the question is, do the Yankees want an overpriced, undertalented major league farm club? The Mets are in town, so it’s just a subway ride to Yankee Stadium. The Yankees will probably pass because they don’t need the AAAA players at MLB prices. Seriously, who else would buy the Mets?

  6. sdelmonte - Feb 7, 2011 at 1:43 PM

    I just discovered something interesting that may help ease at least one worry. It turns out that the uncle of the man who ran the Knicks and Rangers into the ground is already running the Indians into the ground. So if and when the Mets are sold, maybe that will be enough of a reason for James Dolan and Cablevision to not be in the mix.

    Because personally, I am just not that worried about the Wilpons or what will happen now. But the Dolans really bother me.

  7. Dan in Katonah - Feb 7, 2011 at 2:02 PM

    Yeah, someone mentioned the Dolans in the article on BP. If that happened, I would lose it. Or more probably I’d shift my position on Goddell’s desire to extend football season and ask that it be lengthed to 30 games to cover the gaping hole where my sports-fandom used to be. Anyone but the Dolans…

  8. browngoat25 - Feb 7, 2011 at 3:16 PM

    I would take the Wilpons over Dolan…

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