Aug 17, 2011, 8:25 AM EDT
A federal appeals court yesterday gave some bad news to Mets owners Fred Wilpon and Saul Katz: the bankruptcy trustee’s calculation of how much Madoff money they have to return was upheld — and Wilpon and Katz’s much lower calculation denied — meaning that they have to fork over $300 million.
To be clear: this is a separate issue from the “Wilpon and Katz should have known it was a scam” claims that the trustee has been advancing and for which he is seeking some $700 million. That will be taken up Friday in another hearing and, based on some previous indications from the judge, the trustee has an uphill climb in establishing that Wilpon and Katz should be on the hook for that.
But even though this is much smaller in dollars and does not touch on any culpability on the part of the Mets’ owners, it ain’t exactly good news for them either. At least, assuming they don’t have a spare $300 million laying around.
- The benches cleared in Toronto, too 65
- The Reds’ and Pirates’ benches cleared after Brandon Phillips was hit with a pitch 46
- Reminder: even though the trade deadline has passed, trades can still happen 9
- Settling the Scores: Saturday’s results 36
- Lucas Duda’s last eight hits have been home runs 11
- Report: Larry Lucchino stepping down as president and CEO of the Red Sox 32
- Clayton Kershaw blanks the Angels over eight innings, runs consecutive scoreless innings streak to 37 20
- Clayton Kershaw and Mike Trout make MLB history in Saturday’s matchup 14
- The benches cleared in Friday’s Giants-Rangers game (205)
- Blue Jays acquire David Price from the Tigers (113)
- Rangers land ace left-hander Cole Hamels from Phillies (106)
- Royals make another big move, get Ben Zobrist from A’s (95)
- Report: Rockies trade Troy Tulowitzki to Blue Jays for Jose Reyes and prospects (92)