Found March 19, 2012 on Long Island Met Fan:
PLAYERS: Fred Wilpon
TEAMS: New York Mets
This morning the Mets principal owners, Fred Wilpon and Saul Katz have agreed to pay Madoff fraud victims $162M.According to Fox Sports, the Mets owners will not owe any money for three years. Hopefully by that time they will have paid their $25M loan to MLB, but it is still doubtful.Adam Rubin also tweets that the Mets will be on the hook for very little of the $162M because they will "be able

Madoff case settled and Fred Wilpon gets new nickname

So it’s finally over. Mets owner Fred “Wimpy” Wilpon will gladly pay Tuesday if you give him a hamburger today. But in this case “Tuesday” is three years from now and “hamburger” is the big business known as the New York Mets. The Madoff clawback suit is settled with the Mets on the hook for $162 million but with the money not payable until three years from now. ...

Wilpon’s Jolly: It’s A Brave New World For Mets Owners and the Fans

As most of you now know, Mets ownership and trustee Irving Picard reached a settlement for $162 million this morning, as was first reported by Richard Sandomir of the New York Times. In the light of this news we have also learned that the Mets will not pay anything for three years because their net obligation could end up being around $29 million after the total accounting for...

Fred Wilpon: “Litigation Is Behind Us, I Want To Thank Everybody”

Mets ownership and trustee Irving Picard have reached a settlement for $162 million, according to Richard Sandomir of the New York Times. The Mets will not pay anything for three years. Jury selection had been set to begin today, but it never got that far. Both Fred Wilpon and Saul Katz, principal Mets owners, were in court when this settlement was announced. “Litigation is...

Video: The Funnier Side Of Wilpon/Picard Settlement

You’ll enjoy this humorous take on yesterday’s settlement with the trustee by Mets owners Fred Wilpon and Saul Katz. It even features are lovable mascot Mr. Met. It’s in Chinese, but I’m certain you’ll enjoy it all the same. Courtesy of NMA World Edition Videos. Hat tip to JetsMets13.

The Mets Outstanding Debt Obligations And A Road Map To Meeting Those Obligations

What a big day for the Mets owners yesterday, huh? Mets fans I’ve spoke to and chatted with seem to have mixed feelings  about yesterday’s events. But like I advise all my Mets buddies, stop worrying about what you can’t control and take your emotion out of the equation. Fred Wilpon and Saul Katz were all smiles as they left the courthouse yesterday morning. Fred even pumped...

The Very Rich Are Not Like You And Me: They Walk When They Steal

So huzzah, Mets Fan! Your team's owners / destroyers of worlds, Fred Wilpon and Saul Katz, walked out of a Noo Yawk courtroom today not in ankle locks and Lechter masks for their role in the Bernie Madoff Pyramid Scheme, but with smiles as they skated past a civil trial, limited their exposure to further claims, and acquired the knowledge that in four years, or significantly...

Mets will remain under Wilpon control

All throughout their financial siege, the Wilpon family vowed to never sell the Mets, even as it seemed bankruptcy hovered over them like an anvil. The team's debts were staggering, attendance was falling and if that wasn't enough, the clawback lawsuit initiated by Irving Picard, the trustee recovering funds from the Madoff Ponzi scheme, was the final step into the inferno...

Is The Picard Settlement Good News For Mets Fans?

The dust is just starting to lift on the Mets’ financial situation and I’m not entirely sure if I should be happy about it. The Wilpons and Irving Picard – the trustee representing the victims of Bernie Madoff’s elaborate Ponzi scheme – settled on a payment of $162 million. Think about that for a second. That’s $1 million per game of an entire baseball regular season...

Negative Energy

So the Mets have to pay $162 million to Irving Picard's trustee after settling in court today. And somehow, this is good news. It's good news for the Wilpons, it's good news for the trustees, everybody is freakin' happy. Except me, of course. Partly because I'm never happy. Partly because it is pretty much going to keep the Wilpons entrenched in that ownership...

Mets owners settle in Madoff case

The New York Mets owners and a trustee for Bernard Madoff's fraud victims settled Monday for $162 million in a case aimed at repairing the damage from a massive investment scheme. The Mets owners will not pay anything for three years. Jury selection had been set to begin in a civil trial to determine how much the team owners will owe other investors who trusted their money...

With Settlement, Don’t Look for the Mets to be Sold Anytime Soon

$178 million. Maybe less. That’s the amount that could ultimately be collected in a settlement today between the owners of the New York Mets and the trustee for the liquidator of Ponzi scheme titan Bernie Madoff’s law firm. Irving Picard, the trustee for the Madoff victims had argued that Sterling Equities, the owner of the Mets that includes Fred and Jeff Wilpon, as well as...

Mets owners settle with Madoff trustee for $162M

The New York Mets owners and a trustee for Bernard Madoff's fraud victims settled for $162 million on Monday. The announcement came as jury selection was scheduled to begin the civil trial with $303 million on the table. The Mets will not have to pay a dime for three years as part of the settlement. Two weeks ago, a judge ruled owner Fred Wilpon must pay as much as $83 million...

DEVELOPING: Mets Settle Madoff Numbers For $162M

((HT: MyFoxNY))The owners of the New York Mets and the trustee trying to recover as much money as they can for victims of Bernie Madoff's Ponzi scheme settled Monday for $162 million.The Mets owners will not pay anything for three years- considering they're not the most cash-rich at the moment...Irving Picard, the court-appointed trustee chasing after the cash, sued the Mets...

How Investing in Madoff Created Bloat with the New York Mets

For the most part, it’s done. The legal cloud that has hung over the New York Mets at least sees a crack of light through it as a $162 million settlement was reached yesterday morning with the trustee looking to recoup what was seen as “net wins” by ownership of the Mets investing heavily with Bernie Madoff, the man behind the largest Ponzi scheme in US history. And while...
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