New York Mets: Madoff

Mets' pitchers and catchers may be reporting on Feb. 20, but the next most important dates in the team history are actually Feb. 16th and Feb. 23.

Feb. 16th is the deadline for submission of final reply briefings for a ruling by Judge Rakoff' whether the Wilpons are only on the hook for two years and $83 million as opposed to the $295 million over six years that Irving Picard currently seeks. This is a chance for Picard to try to have an important partial victory on Judge Rakoff's playing field.

If Judge Rakoff so chooses, he could have a packed house for the oral arguments on the subject on Feb. 23rd. Shortly, thereafter, he could issue a final opinion and order.

So Feb. 16th and Feb. 23rd are the vital dates. But in this game is always feels like it is not over until it is over because ... they can still appeal more if they so choose after a trial and to other other courts.

Still, in terms of the future ownership of the Mets, these two Febuary dates are very significant. Even with Bud Selig in their corner, it is unclear if the Wilpons could survive a major loss in this case without being forced to sell the team.

There is a belief among some that settlement talks are going on. Even with the Wilpons owning the upper hand based on last week's and earlier Rakoff rulings and the possibility that they may only (relative term) lose $83 million, they may want to avoid having their family and business finances exposed to the world in such a trial.

In the end, no one knows for sure if there will be a trial that is set right now for March 19th.

"Because of the complexities of issues and hardening of positions by the adversaries, I think the likelihood is there will be a trial," said lawyer Michael J. Kline of Fox Rothschild LLP in Princeton.

Ruling gives Mets a win

January, 17, 2012
1/17/12
5:44
PM ET
The Mets win! The Mets win! At least for now.

The judge in the Mets/Madoff victims trial ruled in favor of the Mets on Tuesday, which means at the moment, the Mets owners will only be able to lose $386M at trial. However, this could change, because Irving H. Picard could still appeal the amount again after the trial.

What the decision also means is that the trial is now expected to begin March 19th.

Originally, Picard sought around $1 billion. For now, he can't go after that much. However, he can appeal to a different court once the March 19th trial concludes. So, right now, it is a victory for the Mets, but it will likely be appealed.

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TEAM LEADERS

WINS LEADER
Bartolo Colon
WINS ERA SO IP
14 4.02 143 190
OTHER LEADERS
BAD. Murphy .295
HRL. Duda 28
RBIL. Duda 86
RD. Murphy 76
OPSL. Duda .832
ERAZ. Wheeler 3.49
SOZ. Wheeler 180