Earlier this month the suit against the Wilpons was taken out of bankruptcy court and given to a district court judge. That seemed to be a good sign for the Mets organization.
This was in the same article from the Daily News that spoke about the possible additional investor talk surrounding the team.
According to sources who have followed the deal, Judge Jed Rakoff‘s July 1 ruling that moved Irving H. Picard v. Saul B. Katz et al into the Southern District of New York has changed the landscape for the Mets’ owners, giving them a better chance at a more favorable outcome. The district court is more likely to hold the Mets owners responsible for $150 million to $200 million in provable profits from Bernie Madoff’s $63 billion Ponzi scheme rather than the $700 million in principal and $200 million in fictitious profits that Picard is seeking.
$200 million dollars is a lot better then billion dollars that Picard was looking to get out of the Wilpons. If this is true what are these talks that are going on with the additional potential investors? Is this part of the reason the Einhorn deal is taking so long? Are the Wilpons dragging it out to see if they even need investors at this point?
