Hoo boy, I haven’t had my coffee yet and I know nothing about operating a major league baseball team..but this Times article is sure to upset the civilian population. Go read now.
…they sometimes adopted the strategy of placing deferred money owed the players with Mr. Madoff’s investment firm. They would have to pay the player, but the owners of the club would be able to make money for themselves in the meantime. There never seemed to be much doubt about that, according to several people with knowledge of the arrangements.
“Bernie was part of the business plan for the Mets,” a former employee of the club said.
via Bernie Madoff Had Wide Role in Mets’ Finances – NYTimes.com.