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.
- Manny Machado could join the Orioles as soon as next weekend 3
- Michael Pineda suspended 10 games for “foreign substance” 45
- Doc Gooden calls B.S. on people saying pine tar is just to help pitchers get a grip on the ball 87
- Pineda and pine tar: baseball is, once again, sending mixed signals about cheating 126
- And That Happened: Wednesday’s scores and highlights 69
- Josh Lueke is a rapist. How often does that bear repeating? (201)
- Benches clear in Pittsburgh after the Brewers’ Carlos Gomez bat flips a third-inning triple (183)
- Michael Pineda ejected in second inning for pine tar on neck, facing a 10-game suspension (156)
- Pineda and pine tar: baseball is, once again, sending mixed signals about cheating (126)
- Chipper Jones chimed in on the Carlos Gomez incident (111)