The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 27 min ago
Apr 13 2009 | 2:05am ET
When Bernard Madoff re-upped his season tickets to the New York Mets last year, he probably didn’t expect to be indisposed on opening night.
But with the convicted Ponzi schemer safely ensconced in a Manhattan jail cell, someone else will be sitting in his seats just behind home plate as the Mets open their new $850 million home tonight. The court-appointed trustee liquidating Madoff’s assets sold his two tickets to the game against the San Diego Padres at Citi Field on the online auction Web site eBay yesterday, netting $7,500.
The seats, in the second-most expensive section of the ballpark, carried a face value of $1,050. The price almost doubled during a frenzied bidding war during the final half-hour of the auction. All told, the tickets attracted 68 bids.
Irving Picard, the court-appointed trustee, won approval to sell the tickets last week. After a snafu—eBay cancelled the auction on April 8 because of an error in Picard’s payment plan—the three-day auction went live on Thursday. Picard also had arranged a deal with the Mets, allowing them to trade Madoff’s seats—the most expensive in Citi Field, at $80,191 for the pair just one row back of home plate, with a top face value of $695 apiece—for the next-best, in exchange for a $19,440 refund from the baseball team.
Picard plans to sell the Mets’ remaining April home dates individually, before auctioning the rest of the season package off beginning in mid-April.
Mets ownership and management were among the largest investors—and biggest losers—in Madoff’s $65 billion Ponzi scheme. Mets owner Fred Wilpon’s Sterling Equities is thought to have lost as much as $500 million, and more than two dozen accounts with Mets ties were listed in a court filing in February, many of them with addresses at Shea Stadium, the Mets’ former home that is well on its way to becoming a parking lot for Citi Field.