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.

Report: Ehrhoff signs a PTO with the B's after World Cup

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Report: Ehrhoff signs a PTO with the B's after World Cup

The Bruins will add another veteran defenseman to their training camp group fresh off the World Cup of Hockey as German D-man Christian Ehrhoff is headed to Boston on a PTO (professional tryout agreement), according to a report from TSN Insider Bob McKenzie.

https://twitter.com/TSNBobMcKenzie/status/781985885420154881

The 34-year-old Ehrhoff had three assists in six World Cup games for Team Europe, and had two goals and 10 points in 48 games for the Los Angeles Kings and Chicago Blackhawks last season while clearly starting to slow down a bit. He’s clearly no longer the player that averaged 14 goals and 47 points for the Vancouver Canucks from 2009-2011, and is another left-shot defenseman to add to a team that already has Zdeno Chara and Torey Krug.

But it behooved the Bruins to bring in at least one “name” veteran D-man on a tryout basis during this training camp with so many needs for upgrades on the back end, and with a host of young players that might not be ready for prime time. This might also be a warning sign for young veteran Joe Morrow, a left shot D-man that has struggled a bit in training camp after coming off an erratic first full season at the NHL level.

Clearly the Bruins need more than Ehrhoff, however, even if he’s somehow re-energized with the Bruins after playing pretty well in the World Cup. The Kings were down enough on his game to put him through waivers last season, but he was a top-4 defenseman for the previous eight seasons for San Jose, Vancouver, Buffalo and Pittsburgh prior to getting bounced around between the Kings and Blackhawks last season.

The added bonus with taking a look at Ehrhoff is that there’s no risk associated with a PTO, and the Bruins can simply walk away with no cost if the B’s coaching staff decides he’s not a good fit for the group in Boston. On the other hand, bringing in a Kris Russell-type would cost a great deal in terms of money and term in a free agent contract, and it might not benefit the Black and Gold club in the end result.