clock menu more-arrow no yes

Filed under:

Does Wolff have any financial ties to Bernard Madoff?

New, comments

UPDATE: Lew Wolff just wrote to me and said, "You can tell your fans that I never heard of the guy until the news of his scheme broke." - Blez

A joint AN release from the Department of Irresponsible Speculation and the Idle Hands Division ...

Bernie Madoff, the Wall Street titan who recently admitted to running a massive Ponzi scheme, apparently numbered among his marks both Mets owner Fred Wilpon and a wide swath of New York/East Coast real estate developers.

Now, granted, Lew Wolff is a Hollywood/West Coast guy, and a member of a different slice of high society than the Wilpons. But he is a major real-estate player, and there have been some local institutions and individuals who lost money to Madoff.

I'm not at all alleging that Wolff does have losses (or, heck, early-participant gains) from Madoff's scheme; but I do think it's a question that could reasonably be asked of him.

If it was the case, that could potentially explain some of the financial whipsawing by the A's this offseason, with regard to both roster and stadium deals. Other considerations, to be sure, could also explain this offseason.

In any event, it does seem as if the economy is taking a toll on the team's stadium development plans (though Beane seems to be in good shape with cash for free agents, his non-highballing of Furcal notwithstanding).

What's the community guess on the timetable for the--heck, any--new A's stadium?