Blog Entry

Suit against Wilpons clears hurdle

Posted on: March 5, 2012 12:36 pm
Edited on: March 5, 2012 12:50 pm
 
By Dayn Perry

The Wilpon family, owners/saboteurs of the New York Mets, suffered a courtroom setback today, report Terri Thompson and Michael O'Keefe of the New York Daily News:

A federal judge in Manhattan ruled Monday that the contentious and highly public battle between the owners of the New York Mets and the trustee overseeing the Bernard L. Madoff bankruptcy case will proceed to trial, continuing a case marred by leaks and sordid accusations that has jeopardized the ownership of the Mets for more than a year. U.S. District Court Judge Jed Rakoff refused to dismiss the suit, ruling that the trustee, Irving Picard, can proceed to trial on three counts against Fred and Jeff Wilpon and Saul Katz and their partners in Sterling Equities and can claim as much as $83.3 million in “fictitious profits” without a trial.

The Wilpons, whose Madoff entanglements have already whittled down the family fortune, are already pawning off ownership stakes in the team, so it goes without saying that they can't afford a such a pricey judgement against them. On the other hand, anything that puts the House of Wilpon on the log flume out of Queens is probably good news for beleaguered Mets fans.

UPDATE: Adam Rubin tweets that this might not be entirely bad news for the Wilpons.

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Category: MLB
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