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Wilpon's Folly [Kindle Edition]

Howard Megdal
4.5 out of 5 stars  See all reviews (8 customer reviews)

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Book Description

On December 11, 2008, in the middle of a busy baseball offseason, Bernard Madoff was arrested for orchestrating a massive financial fraud. Among his chief investors was Mets owner Fred Wilpon, who not only lost a major revenue stream as a result, but is now being sued for "fictitious profits" that he now owes to other Madoff victims. To the tune of almost a billion dollars.How did this happen? Where did Wilpon go wrong, and why does a fraud victim suddenly owe money? The truth about these questions has been largely hidden, but in this short book, the whole story is fully revealed. In this tight narrative, Howard Megdal tells the dramatic financial tale and proves a surprising truth: Wilpon's thirty-year reign as owner of the Mets is about to end.Perhaps the most public victim of the Madoff scandal, Wilpon now faces a long road, and likely a difficult offseason. Here Megdal articulates both Wilpon's position and those against him. Like Michael Lewis' The Big Short, this book unravels the world of a major investment scandal through an entertaining and recognizable story.


Product Details

  • File Size: 1779 KB
  • Print Length: 88 pages
  • Publisher: Bloomsbury USA (November 15, 2011)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B006MCS1ZQ
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Enabled
  • Amazon Best Sellers Rank: #547,654 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

4.5 out of 5 stars
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4.5 out of 5 stars
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Most Helpful Customer Reviews
5 of 7 people found the following review helpful
5.0 out of 5 stars Concise, well articulated and stunning December 16, 2011
Format:Kindle Edition
Anyone who has read the works of Mr. Megdal over the years have come to expect excellence in his craft, and this book is no exception. As a long suffering Mets fan the bleakest of times have occurred over the recent years as word of the Wilpon financial situation has found public attention. While no financial expert myself I have found much of the info leaked to be confusing and inconclusive. What Mr. Megdal has accomplished is making the material accessible to those not completely versed in the world of financial scandal. This is a must read for Mets fans, but also a great narrative about the impact of the actions of Bernie Madoff on a multi-million dollar corporation. While the Mets PR staff is now making claims that the information in this book is inaccurate only leads me to believe it is absolute truth, as they are not widely regarded for their honesty with the public.

A brilliant job by Mr.Megdal making a taxing topic like finance and having it read like a fun work of fiction.
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By BS5
Format:Kindle Edition|Verified Purchase
Even if you read this well-reported book years after the settlement between the Wilpons, Saul Katz and Irving Picard, if you are a true Mets fan you will want to cry and never believe a word from this current team ownership group.
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3 of 5 people found the following review helpful
5.0 out of 5 stars A fantastic read! December 22, 2011
Format:Kindle Edition
To be a Mets fan, it seems like these days you need to be a medical expert (to understand all of the injuries), a legal expert and a financial expert. Howard Megdal takes the burden off of the average fan to understand the latter two as he explores the Wilpon ownership situation. A brilliant writer and a brilliant mind, Megdal presents the story that is so absurd if it wasn't fact, no one would believe. Perhaps he can run for "owner" next, much like the GM Campaign he ran, he would be a far better choice to control the finances of this team than those currently in charge. I highly reccomend this book, and it's author!
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3.0 out of 5 stars So this is why the mets are rubbish..??? August 18, 2014
Format:Kindle Edition|Verified Purchase
Good read for any Mets fan trying to see why the team has no money to spend on players any more.
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More About the Author

Writer-at-large, @capitalnewyork, contributing writer @SportsOnEarth. New book: The Cardinals Way, coming in 2015. Also politics/culture/fiction writer. His most recent book, "Wilpon's Folly", chronicling the financial and legal difficulties of the New York Mets owners, was published by Bloomsbury in December 2011. His first two books, "Taking the Field" by Bloomsbury and "The Baseball Talmud" by HarperCollins, are available wherever books are sold. Follow Howard on Twitter @HowardMegdal.

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