Mar 19, 2012, 11:33 AM EST
We’ve heard scary numbers regarding the potential liability of the Mets owners in the Madoff mess. The trustee, Irving Picard, was using the B-word at times last year. Recently it was thought that their exposure could be $300 million or more. A couple of weeks ago they were ordered to pay $83 million as part of the case. And today, of course, they settled for $162 million.
But in reality, it’s a lot less than that leaving their pockets.
For starters, this is because that $162 million settlement actually includes the $83 million that they had already been ordered to pay. But the biggest thing working in their favor here is that the $162 million is to be paid out of money the Mets owners may recover in a settlement by virtue of them being victims of Madoff themselves. And they may very well recover a significant amount, as others, closer to Madoff, have put billions into a fund for that purpose.
Heyman reports that Wilpon and Katz may be out a mere $37 million net by the time this is all done. And that even then it will be payable over four years. Which is the price of a good starting second baseman.
Theoretically. I mean, it’s not like the Mets have one of those.
- Red Sox announce four-year, $88 million deal with Hanley Ramirez, DFA Juan Francisco 21
- The Cubs have offered Jon Lester “north of $135 million” 51
- Pablo Sandoval’s deal: five years, $98 million plus an option 40
- Kyle Seager, Mariners close to $100 million extension 25
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot 286
- So what would the Red Sox look like with Hanley Ramirez and Pablo Sandoval? 49
- UPDATE: Red Sox finalizing a 4-year, $88 million deal with Hanley Ramirez, with a vesting option 35
- MLB players react to Odell Beckham, Jr. catch on Sunday Night Football 27
- The 2015 Hall of Fame ballot is out — Randy Johnson, Pedro Martinez are new on the ballot (286)
- More Hall of Fame ballots like Adam Rubin’s please (136)
- UPDATE: The Pablo Sandoval-Red Sox deal is done, pending a physical (133)
- Report: “There is a 90 percent chance that Pablo Sandoval will sign with the Red Sox” (130)
- Sexual assualt charges reinstated against Tigers pitcher Evan Reed (129)