A few days ago, news broke that Mets owner Fred Wilpon, who allegedly profited under Bernie Madoff's ponzi scheme, planned to sell a minority stake (20-25%) of the team so he could offset a planned $48 million settlement with the trustee for the bankruptcy of Madoff's business.
The Mets were valued at around $850 million last year, meaning that the minority stake would have gone for around $200 million. Not so fast, Fred. Today's NY Post reports that the Mets are $700 million in debt, meaning that minority stake is only worth around $39.5 million. Quick math tells me that the Mets, in total, are worth only slightly more than Cliff Lee's contract. Heh.
The Amazin' Mets, folks.