CINCINNATI—The specter of Bernard Madoff no longer hangs over the Mets. And the threat of a crippling lawsuit has passed. But as they slog through another summer of disappointment, their precise financial state remains something of a mystery.

This much we know: After settling a lawsuit filed by the trustee representing Madoff victims and selling $240 million worth of minority stakes in the team, the Wilpon family is no longer in danger of losing its grip on the Mets.

But...