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.
- The San Jose lawsuit against Major League Baseball should be thrown out of court 16
- San Jose sues Major League Baseball, challenging its monopoly power 24
- Original Biogenesis source: “the people running Major League Baseball are the biggest scumbags on Earth” 37
- Brian Cashman calls out Yankees hitting coach Kevin Long 47
- And That Happened: Monday’s scores and highlights 84
- MLB hands down the suspensions for Tuesday night’s Dodgers-Diamondbacks melee (111)
- Neil deGrasse Tyson explains why beanball wars are stupid (104)
- Democrats beat the Republicans 22-0 in the Congressional Baseball Game (98)
- And That Happened: Wednesday’s scores and highlights (97)
- And That Happened: Thursday’s scores and highlights (88)
- Can Heat focus enough to avoid elimination?
- CSN: Bruins' defense never rests in Game 3 win
- CSN: Celtics-Clippers KG, Rivers trade talks dead
- PFT: Freed Johnson wants second chance in NFL
- PBT: Judges rules Iverson did not kidnap children
- PFT: Rodgers says Packers' moves a 'wake-up call'
- PFT: Beckham turned down chance to kick in NFL