Mets to Pay $162M in Madoff Case

    NEW YORK - OCTOBER 29:  (L - R) Saul Katz, CEO of the Mets, Fred Wilpon, president of the Mets, Sandy Alderson and Jeff Wilpon, chief operating officer of the Mets pose for a photo during Alderson's introduction as the general manager for the New York Mets on October 29, 2010 at Citi Field in the Flushing neighborhood of the Queens borough of New York City. (Photo by Andrew Burton/Getty Images) *** Local Caption *** Saul Katz;Fred Wilpon;Sandy Alderson;Jeff Wilpon

    Andrew Burton / Getty Images

    The owners of the New York Mets have agreed to pay $162 million to other Madoff investors who lost their cash when the billionaire financier’s fraud scheme went belly up. They reached an agreement with the trustee for Madoff’s victims Monday morning just as jury selection for a civil trial to determine how much the Mets owners owed was about to begin. (The trustee’s lawyer, Irving Picard, had alleged that the Mets owners knew Madoff was running a Ponzi scheme but invested anyway.) A judge had already ruled that they must pay up to $83 million back, but if they had gone to trial, they might have been forced to pay another $303 million. Mets lawyers were prepared to call pitcher Sandy Koufax to testify for the defense.

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