UPDATE: Richard Sandomir reports that the settlement is for $162 million.
This is still a hefty chunk of change, but it is less than the liability they faced. And, more importantly, it brings certainty to what has been an uncertain liability hanging over the team’s head for a couple of years now.
9:27 AM: The trial involving the Mets owners and the bankruptcy trustee in the Bernie Madoff mess was to begin this morning. Minutes ago, however, it was announced that the parties have reached a settlement.
This was not expected. And at the moment we have no details. We’ll update as soon as we learn some.
Instant reaction, though: My guess is the Wilpons and Saul Katz don’t settle unless it allows them enough financial comfort to keep control of their most treasured asset, the New York Mets.
The Marlins game was understandably cancelled yesterday. The baseball schedule has always gone on in such situations, however, and the Marlins will host the Mets tonight in Miami.
As they do so, they will all be wearing number 16, Jose Fernandez’s number, in honor of their fallen teammate.
A nice gesture on what will certainly be an emotional night.
ESPN’s Keith Law reports the Twins have hired Derek Falvey as their new president of baseball operations.
Falvey has been the Indians assistant general manager for the past year after spending a decade with the organization. He’s only 33 and he’s analytically-inclined. Which, given that the Twins front office has been particularly young or analytically-inclined, should be a pretty major change of pace. It’s also worth noting that going from one year of experience as an assistant general manager all the way to president of baseball operations — who will presumably oversee a general manager of his own — is a big, big jump. Either the Twins have a LOAD of confidence in Falvey or else they were having serious issues finding more experienced candidates. Of course both of those things could be true.
The Twins’ longtime general manager, Terry Ryan, was fired in July. The club lost its 100th game yesterday, marking only the second time since the franchise moved to Minnesota that it has lost that many games.