Update On Mets-Madoff Mess

The owners of the New York Mets, Fred Wilpon, chief operating officer Jeff Wilpon, and team president Saul Katz, met with MLB Commissioner Bud Selig today to discuss the situation revolving the potential sale of a portion of the team. According to Adam Rubin of ESPN New York, the Mets may wind up doing nothing, despite the lawsuit from Irving Picard, the trustee for Bernie Madoff victims. Picard is said to be seeking for at least hundreds of millions from the Wilpons. On Friday, the Wilpons said that they may sell 20-25% of the team to satisfy the settlement of the lawsuit, which is currently sealed. The lawsuit is set to become unsealed on February 9. In the lawsuit, Picard is said to want to recover somewhere in the neighborhood of $300 million, in what he calls "fictitious profits" accrued by the Wilpon and Katz business interests, as well as additional money, according to the New York Times. Despite all the uncertainty regarding the Mets, they may wind up doing nothing. "At the end of the day, we may or may not do anything, but we are exploring options. ... A lawsuit brings uncertainty," Fred Wilpon said Friday. "We're in confidential settlement talks with the trustee, and we hope those talks come to fruition, but that's uncertainty." There has been speculation that the Mets may have a hard time raising the money needed to pay back the Madoff victims.