Bernie Madoff clob bered the Mets even worse than the Phillies did.
The Wilpon family is taking such a shellacking from the Ponzi schemer that Mets owners yesterday said they are selling 20 to 25 percent of the team, seeking roughly $200 million.
In the last few months, the team has quietly shopped the stake around to investors including hedge-fund tycoon Steve Cohen, with no success, a knowledgeable source said.
Mets owner Fred Wilpon — who profited under the Ponzi scheme — conceded that the new cash may be needed to offset a settlement with Irving Picard, trustee for the Madoff victims.
Picard has said the Mets made nearly $48 million in Madoff’s scam. He said the Mets Limited Partnership originally invested about $523 million — but eventually withdrew about $571 million from the accounts.
Yet, the Wilpon and Katz families, who own 100 percent of the team, are seeking four times that amount in a sale, leading to speculation that the families made hundreds of millions in other non-Mets accounts and could owe much more to Madoff victims.
Pressure on the owners is coming from several directions.
The Post reported exclusively this summer that the Mets borrowed $75 million and that those funds were paid to the owners.
That loan brought the team’s debt to roughly $700 million.
At the time, the franchise was losing $10 million annually.
Meanwhile, the owners’ profitable television network SportsNet New York (SNY) has borrowed so much money it is tapped out.
And due to the Amazin’s less than stellar performance in recent seasons, revenue from the network has taken a beating.
Despite having the fifth-highest payroll in baseball, the Mets attracted only 2.56 million fans in 2010 — 12th in the majors.
And with payments required on their debt, the Mets and SNY would be in a bind if baseball owners lock out the players when their contract expires in December 2011.
Any investors would likely want to know that at least a portion of their funds would be used toward improving the team and signing top players, a source said.
The source added that although the Mets are selling a minority stake, it is possible that a new minority owner could eventually take over the team if the current owners continue to struggle financially.