Wilpon, Katz’ potential liability reduced in Madoff case

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Yesterday the judge in the Bernie Madoff case dismissed all but two counts against Fred Wilpon and Saul Katz, owners of the Mets. Staying in play was the fraud charge which, theoretically, could have had Wilpon and Katz on the hook for $1 billion. This morning, however, the judge issued a second ruling, capping the potential damages at $386 million.

This certainly changes the game for Wilpon, Katz and the Mets, who just had their worst case scenario — and their ceiling in any kind of settlement — dramatically reduced.

Reached for comment during today’s game, Terry Collins suggested that Wilpon and Katz just pull out of the case now and declare victory.  Wilpon later had to explain to Collins that that only works for batting titles.