NY Mets: Is Picard getting desperate?

Added by Eddie Utley on January 28, 2012.

It looks like the Wilpons have the ball in their court. Irving Picard has asked the judge to force them to pay the $83M in fictitious profits and gave up on the $303M. But this is so he doesn’t have to take them to trial and have to prove they knew something about the Madoff ripoff. Guess he never came up with this proof he claimed he had.

The Wilpons can agree to pay it and not go to trial or they can keep fighting, go to trial and possibly lose more than the $83M. They also have to prove they knew nothing of the scheme to a jury. Juries don’t always get it right so they would be taking a risk.

Fred Wilpon has said he would be vindicated. But is paying $83M vindicated? I guess we’ll see what happens but this could be a positive for them…if they get the investors. Too bad it’s too late to stop Reyes from going to the Marlins.