Madoff bankruptcy trustee increases his claim against Wilpon and friends: to one BILLION dollars

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You can ask for anything you want in a complaint, but when you start off by asking for $300 million from the Wilpons and Saul Katz, and then increase your demand to one billion, one would assume there’s a reason for that:

The amended complaint also provides additional substantiation of the inter-dependent relationship between Sterling and BLMIS as well as certain Sterling partners’ knowledge of Madoff’s dishonesty in his investment advisory business. For instance, the amended complaint details a multi-million-dollar interest- and cost-free bridge loan from Madoff to Sterling in connection with its purchase of the broadcast rights for the New York Mets from Cablevision. This transaction was documented by a single letter agreement that falsely described the loan as an “investment” by Ruth Madoff in the company that would later become the SNY network.

That’s from the press release announcing the amended complaint.  If SNY is somehow brought into this lawsuit and somehow encumbered, it’s major trouble for the Wilpons, as the network is probably more valuable to them than the Mets are.

Now, I shall go refresh the New York Times web page until I see some great pro-Picard spin, and refresh the Daily News until I see some great pro-Wilpon spin.  Meanwhile: certain commenters who tend to be pro-Wilpon in these matters: please explain to us how this is no big deal.

UPDATE:  I received an email from the Wilpons’ and Katz’s P.R. people, with statements from both Fred Wilpon and from the New York Mets.  Here’s Wilpon’s statement:

“The amended complaint is the latest chapter in the work of fiction created by the Trustee.  We will pursue a vigorous legal defense that will set the record straight and vindicate us.”

And here’s the statement from David Cohen, the General Counsel of the Mets:

“This is more nonsense from the Trustee. The $54 million represented funds the Sterling partners had invested with Madoff, as the Trustee acknowledges. As the Trustee also acknowledges, that money was never used — and in fact was returned the next day — because the necessary funds were received from Sterling’s lenders by the buyout deadline, and were used to fund the buyout.”

A press release from the plaintiff and Official Statements from the defendants ain’t exactly the most efficient way to get to the truth of the matter, but I suppose that’s what the courts are for.

Good luck, gentlemen! We’re all watching!

Yankees’ offense wakes up, leads way to 8-1 win vs. Astros in ALCS Game 3

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The Yankees’ offense finally woke up, scoring eight runs in Game 3 of the ALCS on Monday night while the pitching kept the Astros’ offense at bay. That came after scoring a total of two runs against Astros pitching in the first two games. For a recap of the Yankees’ scoring in Game 3, click here.

CC Sabathia wasn’t dominant, but he executed pitches when he needed to most, preventing the Astros from capitalizing on their opportunities. Overall, he gave up three hits and four walks while striking out five on 99 pitches. He’s the first pitcher, age 37 or older, to throw six shutout innings in the postseason since Pedro Martinez for the Phillies against the Dodgers in Game 2 of the 2009 NLCS. Monday’s start also marked Sabathia’s first career scoreless outing in the postseason — it was his 22nd postseason appearance.

Astros starter Charlie Morton couldn’t escape the fourth inning, when he allowed a run and loaded the bases before departing. Will Harris allowed all three inherited runners to score on Aaron Judge‘s three-run home run to left field. Morton was ultimately charged with seven runs on six hits, two walks, and a hit batsman with three strikeouts in 3 2/3 innings.

The Yankees’ bullpen held the fort after the sixth. Adam Warren worked a scoreless seventh. Warren returned in the eighth and retired the side in order, despite yielding a pair of well-struck balls to deep center field.

In the ninth, Dellin Betances walked both hitters he faced to start the frame. Unsurprisingly, manager Joe Girardi had a short leash and brought in Tommy Kahnle. Kahnle gave up a single to Cameron Maybin then struck out George Springer, but walked Alex Bregman to force in a run. Kahnle got Jose Altuve to ground into a 4-3 double play to end the game in an 8-1 victory, giving the Yankees their first win of the series.

The ALCS continues on Tuesday at 5 PM ET. The Astros will start Lance McCullers and the Yankees will send Sonny Gray to the hill.