Comments on: Trial Date Set For Irving Picard’s Suit Against Mets Owners

By: theonlymaskman

theonlymaskman — Mon, 22 Aug 2011 22:48:16 +0000

Well then by your thinking, they can just stick to their guns and take the risk of losing the whole enchilada. Let Fred tough it out. But then I don’t want to see tears when the big bill is presented to him in court.

By: Annie Savoy

Annie Savoy — Mon, 22 Aug 2011 15:03:14 +0000

I am waiting for Mario’s answers to the situation. I don’t know anyone more suited to the issue and the law. Personally I’ll bet he’s really thrown himself into this case – which came to him at a perfect time – his son is running NY State and he is working for Major League Baseball – nice work if you can get it.

By: Des

Des — Mon, 22 Aug 2011 13:34:03 +0000

Tell it to the judge who seems to support the Wilpons. Judge Rakoff can end the trial and make his decision if he wants to do so. Don’t misunderstand me — I’m not about to throw bouquets at the Wilpons, but trustee Irving Picard looks like a high class ambulance chaser. The cure may be worse than the disease.

By: theonlymaskman

theonlymaskman — Mon, 22 Aug 2011 13:24:29 +0000

What Fred wants and reality are two separate things. Fred has no choice but to agree to a settlement. The risk of trial outcome is too high to continue on this voyage to destiny with the iceberg.

By: theonlymaskman

theonlymaskman — Mon, 22 Aug 2011 13:22:21 +0000

With a trial date set, the Wilpons must now seriously consider a settlement. The risk of going to trial with a billion dollar potential bill hanging over their heads is too much to risk. They will settle within a few weeks. I predict they will cough up between $350M and $400M to walk away. After the settlement, they will sell the team 100% to restore liquidity to their accounts. The days of the Wilpon hold on the Mets are drawing to a close, finally! HIP HIP Hooray!

By: alex68

alex68 — Mon, 22 Aug 2011 12:51:19 +0000

JUST SELL, AND GO AWAY!!!!

By: Des

Des — Mon, 22 Aug 2011 05:45:19 +0000

I think it’s unlikely the Wilpons will accept a settlement that eviscerates their dominant hold on the Mets. Fred Wilpon has said over the past few years that he wants the Mets to be a family treasure and that ties him both financially and emotionally to controlling the team.

Mario Cuomo, is a court-appointed mediator. I think his political background will persuade him to seek a compromise deal which is not what Fred Wilpon wants. The judge, Jed Rakoff, seems to have favored the Wilpon’s position up until now. His lines of questioning have not been encouraging to Picard.

If the current ownership is completely absolved of wrongdoing, it probably means there will be more financial clout to the Mets near term operations. It might also change the direction of the Wilpons testy relationship with the new minority owner, David Einhorn. Hmmm. Let’s see what happens.