I think this one got buried in the holiday weekend but let’s give it $63 worth of light.
If prosecutors eventually make a case against Cohen, which many in the city’s financial and legal circles believe they are intent on doing, it will be another whopping embarrassment for the Mets so soon after suffering huge losses because of their trust in Madoff and what turned out to be his Ponzi scheme.
If Cohen is charged, Commissioner Bud Selig could suspend him or compel the Mets to buy out his ownership share. Unless the Mets have another buyer ready in the wings, they would have to find $20 million to repay his investment, which could be a big burden for a club that went to Cohen and others precisely to raise desperately needed cash.
via After Madoff, the Mets’ Other Potentially Risky Investor – Steven A. Cohen – NYTimes.com.
