The Wilpons didn't lose as much money to Madoff as believed

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If you believe financial experts like Larry King, Mets owner Fred Wilpon and family lost as much as $700 million investing with former friend and current inmate Bernie Madoff.  That, however, may be a slight exaggeration:

A partnership connected to the baseball team — which had widely been rumored to have lost money investing with Bernard Madoff — actually gained a net $48 million from its dealings with the convicted swindler, according to a bankruptcy-court filing.

The filing, by the court-appointed trustee handling claims for Madoff victims, is the first documentation of how deeply invested Mets principal owner Fred Wilpon was with Mr. Madoff, a longtime friend.

The filing showed that the Mets Limited Partnership, which is connected with Sterling Equities Inc., owner of the Mets, deposited about $523 million into two accounts with Mr. Madoff — and withdrew about $571 million.

Now that doesn’t necessarily mean that the Wilpons made money.  Yes, it’s a net increase in the money in play, but (a) the Wilpons may have had his money with Madoff for many, many years; and (b) they may have believed, via Madoff’s fraud, that they were up way, way above that.  So in financial terms the Wilpons could have suffered a huge loss in terms of forgone, legitimate gains, and they may have been making financial decisions based on a radically different position than the one in which they actually found themselves to be once the fraud was discovered.  That’s not a $700 million loss, but it’s certainly not great either.

Sadly for Mets fans, however, the team’s competitive position remains just as dire as previously believed.

Braves minor leaguer Braxton Davidson fractures foot on walk-off homer in AFL Championship Game

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Braves minor league first baseman Braxton Davidson played the hero during the Arizona Fall League Championship Game on Saturday, but followed up his game-winning homer with what appeared to be a broken left foot.

Braxton had just lofted a 2-1 pitch from Nationals left-hander Taylor Guilbeau in the bottom of the 10th inning and was making his way around the bases when he started hopping on his right foot as he neared the plate. After being helped off the field, that the infielder was quickly taken to a local hospital for further examination, the results of which have yet to be made public.

The 22-year-old helped lift the Peoria Javelinas to their fifth AFL title and second since 2017. He went 2-for-5 with a single and home run in Saturday’s finale over the Salt River Rafters. During the regular season, he completed his third consecutive campaign in High-A and slashed .171/.281/.365 with a career-high 20 home runs and a .646 OPS through 481 plate appearances.