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MLB Shored Up Cash-Strapped Mets with Loan

The New York Mets have acknowledged they received a loan from Major League Baseball to help cover expenses in November.

The team said in a statement Friday it expected to have "a short-term liquidity" problem and were helped by the league. The New York Times and Daily News said the amount was $25 million.

Mets owner Fred Wilpon and various family members are facing a lawsuit seeking in excess of $300 million in relation to the Bernard Madoff Ponzi scheme.

The trustee Irving H. Picardclaimed the Mets were net winners with their Madoff investments and ignored warnings that Madoff's high returns might be false.

The Mets announced last month they were looking to sell a non-controlling interest in the team of 20 to 25 percent to raise several hundred million dollars.