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 net loser funds is completed. This is a coup for the Mets owners.
And even when they begin paying back that $29 million three years from now, they can spread the payments out over four years.
This is quite a departure from the original $1 billion dollar lawsuit that many speculated (and reported) would lead the Mets owners to bankruptcy, financial ruin and scandal.
“This litigation is behind us and I want to thank everybody,” Fred Wilpon said outside the courthouse. “I am very, very pleased. As we said from the very beginning, we were never willfully blind and always acted in good faith. I can’t wait to get b...