Mets settle Madoff case for ... how much?

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Mets settle Madoff case for ... how much?

From Comcast SportsNet
NEW YORK (AP) -- The owners of the New York Mets baseball team and a trustee for Bernard Madoff's fraud victims settled Monday for 162 million in a case aimed at repairing the damage from a massive investment scheme. The Mets owners will not pay anything for three years. Jury selection had been set to begin in a civil trial to determine how much the team owners will owe other investors who trusted their money to Madoff, who cheated thousands of investors of roughly 20 billion over at least two decades Trustee Irving Picard had argued the team owners knew that Madoff's corrupt investment scheme was a fraud but continued their investments anyway because they were making a lot of money. Lawyers for the owners insist their clients had no idea the investments were a sham. Both Fred Wilpon and Saul Katz, principal Mets owners, were in court Monday at the defense table. Judge Jed Rakoff said Picard had reviewed the evidence and will no longer pursue a claim of "willful blindness" against the defendants. The judge already had ruled the team's owners must pay up to 83.3 million in profits they received from Madoff. But another ruling blocked Picard from trying to collect the full 1 billion he sought to recoup. He has filed hundreds of lawsuits to force those who profited from their investment to pay into a fund for Madoff's victims. The case has damaged the Mets' financial picture, forcing the team to slash payroll and try to raise tens of millions of dollars by selling small chunks of the team. Dodgers Hall of Fame pitcher Sandy Koufax had been scheduled to testify in the trial about Wilpon's intentions. Koufax invested in Madoff's private investment business at Wilpon's recommendation.

Honda Road Ahead: Blackhawks look to get back on track to close regular season

Honda Road Ahead: Blackhawks look to get back on track to close regular season

Pat Boyle and Steve Konroyd break down the Blackhawks' upcoming schedule in the latest edition of the Blackhawks Road Ahead, presented by Chicagoland and NW Indiana Honda dealers.

There are less than two weeks left in the NHL regular season and teams are jockeying for playoff seeding.

The Blackhawks have the best record in the Western Conference with 103 points. The Blackhawks' next two opponents, the Pittsburgh Penguins and the Columbus Blue Jackets, also have 103 points. Washington leads the league with 106 points.

Wednesday the Hawks will travel to Pittsburgh. Two days later they host the Blue Jackets.

After that, the Blackhawks take on the Boston Bruins on Sunday. Boston is in line for one of the final playoff spots in the Eastern Conference.

"There's no easy games from here on out." Konroyd said in the video. "Even teams on the outside, looking in are playing for contracts next year."

Watch the video above to see Boyle and Konroyd discuss the upcoming matchups for the Blackhawks.

Fast Break Morning Update: Blackhawks lose to Lightning in OT

Fast Break Morning Update: Blackhawks lose to Lightning in OT

Here are some of Monday's top stories in Chicago sports:

Blackhawks blow three-goal lead, fall in OT at Lightning

How Cubs came to fully believe in the legend of Kyle Schwarber

White Sox agree to trade outfielder Peter Bourjos

Bulls Talk Podcast: March is Nikola Mirotic's month

Raiders-to-Vegas the latest in long line of NFL relocation drama, some of which included the Bears

Why Cubs fandom was inescapable in covering the greatest story in sports

Derek Holland ends spring on strong note as White Sox down Dodgers

Ex-Bear Brandon Marshall an early favorite at NFL owners meetings

Increased velocity has improved Anthony Swarzak's chances of making White Sox bullpen

Cubs will have Ian Happ one phone call away at Triple-A Iowa