Wilpon: Mets could lose $70 million in '11
Owner discusses franchise's finances with Sports Illustrated
CHICAGO -- The Mets are "bleeding cash" and could lose up to $70 million this year, principal owner Fred Wilpon told Sports Illustrated in a story that will appear this week.
Wilpon also told the magazine he is willing to discuss a settlement for a portion of the $1 billion lawsuit filed against him by the trustee seeking to recover funds lost in Bernard Madoff's Ponzi scheme, something he has been adamant about avoiding in the past.
In addition, the owner told SI he could reach an agreement to sell a minority stake in the Mets for $200 million within three weeks. He did not identify any of the contenders.
The Mets have not commented on any portion of the report.
The SI report comes one day after The New Yorker released a feature in which Wilpon offered strong words about three of his players: David Wright, Carlos Beltran and Jose Reyes.