Mets Owners Settle With Madoff Trustee

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March 19 2012 3:37 PM

Mets Owners Settle With Madoff Trustee

Sorry court sketch artists—Mr. Met won't be taking the stand after all.

A trustee for victims of disgraced financier Bernie Madoff and the owners of the New York Mets have settled for $162 million out of court. Trustee Irving Picard had claimed that the owners knew of Madoff’s fraud and encouraged thousands of other investments. The owners had countered that like many, they had no idea of Madoff’s fraudulent practices.

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Jury selection was set to begin in the civil case today. Had the case gone to trial, owners Fred Wilpon and Saul Katz could have been on the hook for over $300 million. Met fans can only hope that after dropping $162 million, Wilpon and Katz have something left in the bank to chase better pitching.   

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