The trustee representing the victims of Bernard L. Madoff’s multibillion dollar Ponzi scheme is seeking hundreds of millions of dollars from the owners of the Mets, alleging that they, as longtime and successful investors, knew or should have known Madoff was operating a fraud, according to two lawyers involved in the case.

The trustee’s lawsuit against the Mets takes aim at roughly 100 financial entities owned or controlled in part by the Mets owners Fred Wilpon and Saul Katz, and could imperil the assets held by the two men, an array of holdings that includes the baseball team, the regional cable sports network that televises its games, as well as commercial real estate holdings and investment funds.

The lawsuit seeks to recover not only $300 million in what the trustee, Irving H. Picard, calls “fictitious profits” — the difference between what the Wilpon and Katz entities put into Madoff’s investment firm and what they took out over their many years of investing — but also additional millions, according to the two lawyers, who would not be identified because of the secrecy surrounding the case.