Mets executives argued Thursday that a lawsuit claiming they should have heeded warning signs of a 25-year fraud carried out by jailed financier Bernie Madoff is “a fiction” and should be thrown out. “There were no warnings,” lawyers for Mets ownership said.
The Mets are returning home after a major change in their ownership structure. Awaiting them is a division rival anxious to end some road woes.
The Mets have a taker. The club has agreed to sell a minority stake of the franchise to David Einhorn, president of Greenlight Capital Inc.
A court-appointed trustee says the owners of the Mets reaped profits from Bernard Madoff’s financial Ponzi scheme even as they went “shopping” for insurance to protect themselves in case the scam collapsed.
Add another name to the Mets’ ownership mix. According to the Wall Street Journal, billionaire hedge fund manager Steven A. Cohen “has joined the bidding for a minority stake” in the club.
By now we all know the Mets’ owners are trying to sell a portion of the franchise. According to the New York Daily News, the Wilpons and Saul Katz are one step closer.
The financial woes keep piling on for the Mets. According to the New York Times, the franchise lost nearly $50 million in 2010, and this year’s losses may look similar.
Fred Wilpon and the Sterling defendants filed their own motion on Sunday after Irving Picard filed an amended complaint on Friday. Are they swinging for the fences? You bet they are.
Mets co-owners Fred Wilpon and Saul Katz and their investment fund, Sterling Equities, allege trustee Irving Picard made “false allegations” and omitted evidence favorable to the owners in order to force a settlement.
According to the Wall Street Journal, attorneys for Irving Picard have informed Mets owners Fred Wilpon and Saul Katz that additional allegations about amounts invested with Bernard Madoff will be added by March 18 if they fail to reach a settlement.
Major League Baseball “will not make another major loan” to the cash-strapped owners of the Mets, according to the New York Times. That’s not good news for a team reportedly trying to secure a second loan to offset operating expenses.
Bernard Madoff’s blockbuster interview contains some fascinating information about the massive Madoff fraud and whether or not others knew about it. Some of his comments might cut both ways with respect to the Mets’ owners.
Bernard Madoff said in an interview published online Tuesday that Mets owners Fred Wilpon and Saul Katz “knew nothing” about his scheme to fleece victims out of billions of dollars.
A lawyer for the trustee trying to recover money for the victims of the Bernie Madoff Ponzi scheme says negotiations have ended to settle a lawsuit filed against the Mets owners and their affiliated companies.
Sandy Alderson has been appointed as the New York Mets general manager, and is now responsible for rebuilding a big-spending organization beset by problems on and off the field.