Report from Port St. Lucie, 3/19
A busy day for the Mets on Monday, though none of it happened in Florida. The Mets were off today, but owner Fred Wilpon was not — he and Saul Katz settled their case for $162 million with the trustee seeking to recover funds from Bernard Madoff’s Ponzi scheme, putting an end to more than a year of legal uncertainty.
Later in the day, news broke that the Mets have finalized 12 minority ownership shares worth a total of $240 million. All of which is to say the team took two critical steps Monday toward recovering from the financial troubles that have plagued them since news of Madoff’s arrest way back in 2010. It may be years before the Mets are fully recovered, considering declining attendance figures and the like. But for the first time in a long time, Wilpon and Katz can see light at the end of the tunnel.
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