Now The Mets' Owners Now Have A Real Estate Mess On Their Hands

ponzi sterling equities fred wilpon

Mets owners Fred Wilpon and Saul Katz are probably relying on their “happy place” of Shake Shack burgers and summer day games to get through this very difficult time.

They face a $1 billion lawsuit in connection with their wheelings and dealings with Ponzi schemer Bernie Madoff; not to mention the real estate fund they control, Sterling American Property V fund, is seeing commercial properties either decline or fall into bankruptcy.

They are so concerned that they have convinced investors to buy a stake in the Mets so the team can do what they do best—play sub-.500 baseball. [WSJ]

This post originally appeared at Curbed.com.

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