http://sports.espn.go.com/new-york/mlb/news/story?id=6159722 By Adam Rubin
The embattled owners of the New York Mets received a loan from Major League
Baseball in November in order to cover operating expenses, the team
acknowledged Friday.
"We said in October that we expected to have a short-term liquidity issue,"
the team said in a statement. "To address this, we did receive a loan from
Major League Baseball in November. Beyond that, we will not discuss the
matter any further."
The New York Daily News and The New York Times pinned the amount at $25
million.
Mets owner Fred Wilpon, brother-in-law and team president Saul Katz and
various family members and entities related to Sterling Equities are facing
a lawsuit seeking $1 billion. The legal action by Irving H. Picard, the
trustee recovering funds for victims of Bernard Madoff's Ponzi scheme,
alleges Mets owners knew, or should have known, about the fraud. Total losses
in the Ponzi scheme are estimated at around $20 billion.
Principal owner Fred Wilpon and chief operating officer Jeff Wilpon recently
announced they intended to sell 20 to 25 percent of the team. However, Steve
Greenberg, the man they hired to identify investors, since has stated the
percentage sold could be higher. The Wilpons nonetheless adamantly maintain
they intend to retain a controlling interest in the team.
Asked a week ago how he could be so confident in his ability to retain
controlling ownership of the Mets given the uncertainty of the legal
proceedings, Fred Wilpon insisted: "I can only tell you we have the resources
in other businesses. Every one of our other businesses are going very well.
And this business has to be straightened out