Mets might need bailout like GM/Ford/Chrysler

[adminbaberuth]

The company that owns the Mets was one of a handful of ultra-wealthy investors prosecutors say were duped by Wall Street wheeler-dealer Bernard Madoff.

Sterling Equities, which owns the Mets, the Brooklyn Cyclones and major real estate developments in New York and Florida, confirmed it had invested money with Madoff.

The company would not say how much it had invested, how much might have been lost or how if it would affect the Mets.

"Among our various investments, we have accounts managed by Madoff Securities," the company said in a statement. "We are shocked by recent events and, like all investors, will continue to monitor the situation."

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