Tag: bernie madoff

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More Madoff-related Bad News

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Because we couldn't even get one day to celebrate the end of the Luis Castillo era, Picard's latest filing claims that Madoff made an interest-free $54 million bridge loan to the Wilpons in 2004. In their defense, the Wilpons' attorney claims the money was returned the next day, when other means of financing were secured.

Adding SNY to Mets’ Sale Pitch Would Increase Allure

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Here are some numbers from this New York Times article: * SNY is believed to make at least $260 million/year from subscriber revenue (ad revenue is not mentioned) * SNY nets about $120 million (Sterling Equity would get 67% of this) * SNY pays the Mets between $60-70 million/year If this is accurate, and I'm reading this correctly, then the New York Mets and Mets' ownership receive $140-150 million/year from SNY.

New York Mets Book Value: -$225 million

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"Now all this debt could very well come crashing down on Wilpon as a result of his involvement with Bernie Madoff. As I wrote earlier, the Mets and their lease to Citi Field are worth about $845 million. But there is $375 million of debt attached to the Mets franchise and $695 million tied to the ballpark, leaving these assets with an aggregate negative book value of $225 million." 2/3/2011 11:27am Note: the author factored in debt service when appraising the value of the Mets, and then subtracted the entire debt from the appraised value to calculate the -$225 million figure.

Steve Phillips on Mets, Bernie Madoff Scandal -- MLB FanHouse

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Steve Phillips talks about his years-long relationship with the Wilpons and opines about their involvement with Bernie Madoff. Also, note the bookshelf behind Phillips in this video. Among other things, he has a copy of The New Bill James New Historical Baseball Abstract.

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