Recent Broward Law Blog Features

Monday, March 30, 2009

Bernie Madoff Will Lose Tickets at New Mets' Stadium

Looks like baseball fan Bernie Madoff is going to miss out on his prime Citi Field seats at the Mets' new stadium. The tickets are going on the auction block.

The New York Mets season tickets, just behind home plate, will likely be resold by the trustee for Bernard L. Madoff Investment Securities LLC.

"We have no intention of not monetizing them and letting them go unused," trustee Irving H. Picard said Saturday in an e-mail to The Associated Press. "When we have something to announce, we will do so."

Mets executive vice president David Howard said the seats were paid for and were in either the first or second row behind home plate, a section known as Delta Club Platinum. They list for $695 each for opening day on April 13 and June interleague games against the New York Yankees, all classified as platinum by the Mets.

They cost $595 for gold games, $495 for silver games, $395 for bronze games and $295 for value games. Overall, the season ticket comes to $40,095 per seat, an average of $495.
"They're paid for. They can do with them what they want to," Howard said.

Mets owners Fred Wilpon and Saul Katz were close to Madoff, who pleaded guilty March 12 in federal court to 11 counts, including securities fraud and perjury, stemming from a Ponzi scheme prosecutors said was worth $64.8 billion. The 70-year-old Madoff could get up to 150 years in prison at sentencing June 16.

Wilpon, Katz and many entities of their company, Sterling Equities, and various affiliated foundations are among the swindled creditors. It will bring a new dimension to the team when the first base is stolen at the new stadium. It won't have been by an athlete. It will have been by Bernie. What I really want to know is why are we still calling it Citi Field after Citi Bank? I am thinking it should be:

a) Taxpayer's Park

b) Bailout Ballyard or

c) People's Stadium

Or do something different. Let's name it after a hero. Let's call it Jackie Robinson Park.

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