Fred Wilpon, Michigan alum, owner of the NY Mets and major donor to the Michigan baseball and softball programs, is exposed to the Madoff hedge fund scandal to the tune of tens of millions:
"Mets owner Mr. Wilpon, who also owns real-estate investor Sterling Equities, often raved about Mr. Madoff's investment prowess and invested tens of millions of dollars of both his own money and the team's with his company, say financiers who have worked with him. Mr. Madoff handled investments for the Judy & Fred Wilpon Family Foundation, which distributed about $1 million a year in 2005 and 2006 to charities, according to its most recent federal tax returns."
I wonder if this will impact other capital improvements such as the Crisler renovation. In any case, be glad we got the improvement to the baseball/softball facility a few years ago.