Originally written on Matthew Cerrone's Mets Blog  |  Last updated 11/16/14

26 Oct 1998: Mike Piazza of the New York Mets shakes hands with Mets Owners Fred Wilpon (R) and Nelson Doubleday (L) during a Press Conference in New York City, New York. Mandatory Credit: Jamie Squire /Allsport
“The Mets, whose deadline to repay some of their loans is approaching, may be worried about whether they can close all or some of the deals they have in place with prospective minority investors. … As if those problems weren’t enough, Fred Wilpon and Saul Katz, the team’s owners, have been fighting a long and expensive battle with the trustee representing the victims of the Bernard L. Madoff fraud. If a settlement is not reached with the trustee, who is seeking hundreds of millions of dollars, a trial will begin in mid-March. … Given the weight of these problems, it is not unreasonable for [Fred Wilpon] and [Saul Katz] to at least explore ways to restructure their team’s balance sheet, according to experts in sports finance. That includes, they say, considering whether to enter bankruptcy proceedings, or perhaps how to avoid that process.” ~ Ken Belson, New York Times On Thursday night, the Mets acknowledged to reporters that they have engaged CRG Partners to provide services in con...
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