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.
Bob Nightengale of USA TODAY Sports reports that the Royals have signed pitcher Clay Buchholz to a minor league deal. Buchholz will earn a $1.5 million salary if he makes the club’s major league roster and can earn an additional $250,000 through incentives. Buchholz has an opt-out date set for May 1, which means if he isn’t on the Royals’ 25-man roster by then, he can request his release.
Buchholz, 33, was acquired by the Phillies from the Red Sox in December 2016, but he made only two starts before an MRI revealed he had a partial tear of his right flexor pronator mass. He underwent surgery in April and missed the rest of the season.
The Royals recently lost Jesse Hahn, who was diagnosed with a sprained right UCL. Buchholz would likely be in consideration for a rotation spot if another starter were to suffer an injury. Presently, the Royals’ rotation appears set with Danny Duffy, Ian Kennedy, Jason Hammel, Jake Junis, and Nate Karns.