Aug 28, 2009 7:19 PM EST

The owners of the Mets will be forced to sell the club after incurring huge financial losses in the Bernie Madoff scandal.

The Wilpon family lost about $700 million because of Madoff, according to Erin Arvedlund, author of "Too Good to Be True."

Arvedlund said the losses are steep enough that a sale of the baseball team is certain.

"It's qualified by when," she told Reuters. "It's possible they would have to sell by next year."

Via Reuters