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Madoff Scandal Hits Sports

At least two sports figures lost considerable sums in the Bernie Madoff scandal sweeping Wall Street yesterday. As Darren Rovell reported yesterday, Mets owner Fred Wilpon may have lost as much as $300 million, although the organization released a statement that the Madoff matter would have no effect on the operation of the team or "the long term plans of the Mets organization or the CitiField project."

The other sports figure affected by the scandal is former Eagles owner Norman Braman, a wealthy Miami car dealer. Braman's lawyer acknowledged to the New York Times that he had an undisclosed amount of money locked up with and probably lost in the Madoff mess.

Full post as published by Sports Biz on December 13, 2008 (boomark / email).