It’s not the settlement I was referring to but the reasons behind the settlement that is at issue and what was said in the court filing:

“Based upon financial information provided by Defendants since the [agreement], and on the advice of my counsel, we have become satisfied that Defendants’ cash flow and lender covenants would not have enabled me to recover more for the BLMIS customer fund in the forseeable future by litigating to the point of judgement,”

This does raise the specter of the Mets not having the money to pay him more. It’s not a matter of manipulating facts for Piccard cannot be so liberal in his words dealing with a sworn legal document as opposed to dealing with a jury or the media – or trying to explain to his clients why he didn’t pursue the matter further.

http://www.newsday.com/sports/baseball/mets/picard-mets-cash-flow-a-factor-in-settlement-1.3661233

http://www.nytimes.com/2012/04/15/sports/baseball/trustee-in-madoff-fraud-says-mets-owners-had-limited-ability-to-pay.html?_r=0

There were, however, other concerns for Picard wanting the Wilpon trial over for that went beyond the Mets but to other clients being represented in the civil suit. We must not forget that while the Mets might have received the most attention in the New York media, the were far from the only one’s Picard was going after.

http://www.thedailybeast.com/articles/2012/03/20/inside-the-mets-madoff-payout.html

All I can say there is still very serious trouble in Mets land that is going to prohibit the front office (whoever it might be) quite a lot.

“I Won the Cy Young Award and all I got was an offer less that Oliver Perez Money”

Not really. The initial claim against the Wilpons was in the neighborhood of $1 billion (with a B). By the time it got near to trial the amount was lowered to some $380 million. However, they got the trustee to settle for $162 million, none of which is due for at least 3 years. And, big kicker here, they have their own claim against Madoff for $178 million meaning they may never pay a dime. They may even make money on this depending on how successful the trustee is in collecting money from other sources. Small chance of that but worst case their loses are minuscule to what they could have been.

This isn’t to say it didn’t hurt them. They were using the proceeds they got from Madoff to help fund the team and that was a big annual hit. But the Titanic iceberg was averted.

Can’t see how the reports about the Madoff settlement can make this the last year of any less financial pressure at all. As the affidavit filed with the court professed, more money was not sought after because Piccard felt the Mets had no more money left to pursue. Don’t forget, the measures you talk about were taken not because of the upcoming civil suit but because the Mets twice had no money to make it to the end of the month. With those loan payments coming up in another year and the financial losses the past two seasons with revenue more likely to continue dropping than leveling off, that instead still paints a very, very bleak picture indeed.

Sorry, guess I just made you feel worse! Take care of yourself.

My own belief is that when Alderson took the job he knew things were bad and things only got worse. I doubt he has much money to spend at all and whatever he does have to spend has to be low risk money. They just can’t afford another big hit.

But if the reports I’ve read in the press about the Madoff settlement are true this may be the last year of real negative pressure and next year things might be back on the upswing with more money for FAs. I don’t love the Wilpons or Alderson but it makes no sense that they would consciously try to build a non-competitive team, particularly in a major market. All they would do is increase their loses. I try to make my assessment based on this reality. I may be wrong, time will tell.

But if this is the case what has been happening may be a blessing in disguise. Yes, we aren’t getting a ring this year. In that respect this year will resemble the vast majority of Mets’ seasons. But they have gotten rid of a bunch of bad contracts and are bringing along a group of young players, some with some real upside. I could easily see Wheeler coming up have way through the season, Santana traded for some solid pieces including a much needed outfielder and the year ending with a solid, young infield (it amazes me how people just gloss over the fact that we now have one of the highest rated young catching prospects in the game which is a hell of a lot more important than a corner outfielder), a very promising rotation with some good young arms going into the pen and some money to spend next year on a FA we actually want instead of just some guy who hits the wire.

I’d like to win now. Ain’t gonna happen. Next best thing is building a strong future in a rational way. Good enough for now.

I view it differently. If this was year 2000 with a 80-100 mill payroll, the Mets are doing okay. However, in today’s game the market shifted. Mediocre players are getting big money and multiple years. That means, the Mets at their current payroll can’t significantly make the team better through free agency without locking up mediocre players for multiple years at big money. Money, that they can’t afford to make mistakes with and just ride players in the bench, a la Jason Bay.

Say they sign Scott Hairston to a 2 year deal for 15 million. Now, he gets hurt a lot, and even though last year he was healthy, there’s a good likelihood that he ends up on the DL. Since signing him to that contract uses up a good portion if their payroll, chances are they won’t have enough money left to find an adequate replacement at today’s prices. That’s just the reality of the mets current finances and that’s just for a guy who’d be a platoon player on most good teams.

The Mets need to build from within because despite all the big fancy buildings we’ve been shown pictures of, the Wilpons won’t increase payroll ENOUGH to field their weaker positions with players that have any sort of pedigree as productive ML’ers. They need those league minimum guys filling up their roster. That means a better farm system. Which makes draft selection more important.

I’m not one to cry for more money…just what’s fair given the market you play in. Even under a league average for a big market team, the Mets could easily become a legit contender and still only be paying about 130 million. They’d still have a young, cheap core of players all over the diamond and also be in great shape moving forward due to their starting pitching prospects moving forward.

Now, this isn’t happening…they will not be spending. I hope the reason is because they are going to use every last alotted dollar on this year’s draft and international signings. Perhaps they might make a play for one of the two young Cubans in a few weeks.

I’m not nearly as pessimistic as some on this blog and am pretty positive about the not to distant future.

We mustn’t forget how much a morale booster it was last spring when Jeffy got his players those “under dog” tee shirts.

Hey, I was only making a joke to point out the different theories behind rebuilding – asking why the Cubs are waisting their time signing free agents since according to Sandy rebuilding means no single free agent getting a multi year contract for $12 million per (I don’t think he’s even signed one for just $1.2 million) and because to this point he only re-signed one of his own young veterans to a long-term contract and forgot to buy a box of chocolates for another one..

Not that I think the Jackson signing is anything big deal with the Cubs or was right for us.

Come on, are any or you really surprised that the GM or anyone else in management doesn’t come out and start talking about how crappy this team is? Really, or is that just something else to complain about?

These guys are young and they are inexperienced but there is no reason to right this team off as bottom 5 right now. Look at the Marlins last year, anybody here predict them to finish at the bottom of the NL East? Didn’t think so.

Stuff happens. How about if we get to the start of training camp before we call the entire season a disaster.

So I guess you’re saying they should just do something real stupid to show you and other fans that they’re “doing something”. SMH……I’m so glad they’re not operating in an appeasement mode because siging Jackson to that deal, committing to 4 years, would have been the stupidist thing they could have done with the pitching prospects they have on the horizon. I understand your frustrations Joey…..but c’mon, this would have been rediculous.

I don’t care if Sandy holds a news conference and screams into the camera saying,” damn it folks, we ain’t punting! Not now, not ever! This team has legs baby and we’re going for it!”, unless they trade for a REAL outfielder, I’m assuming its just lip service to keeps whatever fans they still have investing in the team.

I say, admit to the rebuild year that it is and get a better draft selection. Why try to piece together 5 extra wins? So, what, they win 70 games instead of 65? That’s pointless to me. Strengthen the farm and actually take the best player available. Sign the picks would be helpful as well.

“This is a great move for the Mets the Nats rotation is weakened by this signing by the Cubs”

“Sandys plan is different from the Royals and Pirates the reason they failed is because they didnt add any major league talent…they tried to do it with all prospects, I wonder what PROSPECTS Sandy could get for Niese or Ike”–Clueless

“Cubs and Epstein are stupid they are rebuilding why waste money on Major league players”

“IF this and this and this and this and this happens and the planets and moon align the Mets could surprise people this year”…lol…Thats a lot of IF’s

“This could be a good signing I just crunched a couple numbers on y scientific calculator and Andrew Browns minor league stats translate to a WAR of +8 ”

“Sandy didnt sign not one major league free agent this offseason, Wow is he a STOIC genius only a genius could do that” Pirates and Royals GM’s reply,”We must be an Astrophysicians because we’ve been doing that for years “

“This is a great move for the Mets the Nats rotation is weakened by this signing by the Cubs”

“Sandys plan is different from the Royals and Pirates the reason they failed is because they didnt add any major league talent…they tried to do it with all prospects, I wonder what PROSPECTS Sandy could get for Niese or Ike”–Clueless

“Cubs and Epstein are stupid they are rebuilding why waste money on Major league players”

“IF this and this and this and this and this happens and the planets and moon align the Mets could surprise people this year”…lol…Thats a lot of IF’s

“This could be a good signing I just crunched a couple numbers on y scientific calculator and Andrew Browns minor league stats translate to a WAR of +8 ”

“Sandy didnt sign not one major league free agent this offseason, Wow is he a STOIC genius only a genius could do that” Pirates and Royals GM’s reply,”We must be an Astrophysics because we’ve been doing that for years “