Mar 19, 2012, 9:28 AM EDT
UPDATE: Richard Sandomir reports that the settlement is for $162 million.
This is still a hefty chunk of change, but it is less than the liability they faced. And, more importantly, it brings certainty to what has been an uncertain liability hanging over the team’s head for a couple of years now.
9:27 AM: The trial involving the Mets owners and the bankruptcy trustee in the Bernie Madoff mess was to begin this morning. Minutes ago, however, it was announced that the parties have reached a settlement.
This was not expected. And at the moment we have no details. We’ll update as soon as we learn some.
Instant reaction, though: My guess is the Wilpons and Saul Katz don’t settle unless it allows them enough financial comfort to keep control of their most treasured asset, the New York Mets.
- REPORT: The Astros to name A.J. Hinch their new manager today 15
- Twins fire manager Ron Gardenhire 33
- Pouliot’s 2014 American League awards picks 15
- Previewing the 2014 Playoffs 79
- And That Happened: Sunday’s scores and highlights 83
- Reds beat Pirates behind Johnny Cueto, hand National League Central title to St. Louis 20
- Video: Steven Souza Jr. makes sensational catch to secure Jordan Zimmermann’s no-no 24
- David Price dominates Twins as Tigers win AL Central 30
- Hunter Pence dropped a bunch of F-bombs in his postgame speech. Good. (116)
- Derek Jeter’s final game in Yankee Stadium could be cancelled because of rain (85)
- And That Happened: Sunday’s scores and highlights (84)
- Previewing the 2014 Playoffs (79)
- Bud Selig says A-Rod will “have a clean slate” once his suspension is over (78)