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Madoff trustee: Mets had $500M debt crisis

Originally published: March 18, 2011 5:26 PM
Updated: March 18, 2011 10:26 PM
By ANTHONY M. DESTEFANO  anthony.destefano@newsday.com

Mets owner Fred Wilpon speaks at a news

Photo credit: Errol Anderson, 2010 | Mets owner Fred Wilpon speaks at a news conference.

The New York Mets owners were thrown into a debt crisis after the collapse of Bernard Madoff's Ponzi scheme and had to restructure $500 million in loans from banks worried about being paid back, the trustee for Madoff's victims said Friday.

Trustee Irving Picard's amended complaint filed in bankruptcy court Friday ratcheted up present-day financial pressures on the team's owners. It now seeks...

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