Fred Wilpon may have to sell Mets

Last week it had been reported that New York Mets owner Fred Wilpon had lost $300 million in what is being described as a $50 billion Ponzi scheme. Matt Cerrone of Metsblog.com has reported that Fred Wilpon has told Omar Minaya to continue his off season plan, despite Mr.Wilpon's financial issues. But Matthew Cerrone has since posted the following quote about an article by New York post writer Michael S. Schmidt “People with knowledge Wilpon's business dealings are concerned that he and the team could encounter significant problems because of the reported fraud.” Schmidt has also said “Perhaps most troubling is the possibility that losses… may cause Wilpon to sell valuable assets, including a portion of his ownership in the Mets.” It is rumored that Star Industries owner Martin Silver is currently putting together a partnership that can offer Wilpon roughly $600 million to buythe New York Mets. All Mets fans can do is hope that these financial issues truly do not effect Omar Minaya's plans for the rest of the off season.

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By James P. Kelly
New York Mets Correspondent

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