"The Mets are close to finalizing the sale of at least five $20 million shares in the team, a move that would help pay off $350 million in club debt, baseball officials familiar with the transactions told the Daily News.

Major League Baseball has vetted and approved the investors, and the team is expected to close those sales and raise more than $100 million within the month, the officials said.

With that, the team would raise enough capital to repay $25 million owned to MLB, a $40 million bridge loan to Bank of America and other club debts and operating expenses that have emerged in the wake of the Bernie Madoff Ponzi scheme scandal."