Monday, March 19, 2012

Mets Owners agree to pay $162 Million to settle lawsuit


The owners of the New York Mets agreed to pay $162 million to settle a lawsuit by the trustee seeking money for the victims of Bernard Madoff's fraud, a deal that eases pressure on the owners of the cash-strapped baseball team.

The settlement calls for payments over a five-year period and Wilpon and Katz will not have to pay any cash until the fourth year. The $162 million could end up being mostly paid with money returning to the owners' Sterling Equities firm as a result of being a victim of the fraud.

Mike Francesa Talks Law Expert Steve Kallis on WFAN

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