Did Mets $300 Million Meltdown Sink Soccer Sale?

The Bernard Madoff Ponzi scheme isn’t just impacting American sports: it’s having a chilling effect on teams worldwide. We previously reported that Mets owners Fred Wilpon and Saul Katz lost up to $300 million of their personal fortunes they had invested with Madoff. Now the MANCHESTER GUARDIAN reports that the $50 billion fraud case may have also cost Newcastle United owner Mike Ashley a chance to sell his team.

Mets and Newcastle United burn money

The potential owners were “two wealthy Americans” who were interested in meeting Ashley’s $300 million price tag for the team, one of the largest in the English Premier League. But the buyers backed out after they lost roughly that amount in investments made with Madoff. Wait a second, this sounds awfully familiar. Didn’t I just write that Mets owners Wilpon and Katz lost $300 million to Madoff?

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