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Mets’ owners ask judge to unveil complaint

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Mets’ owners ask judge to unveil complaint
The New York Mets are not finding it easy to conduct their daily operations without facing financial pressure, day in and day out. Being sued by a trustee isn’t exactly comforting either. Their trustee, Irving Picard, has sued the Wilpons over funds invested
by victims of Bernard Madoff’s Ponzi scheme. The resultant affect on the owners of the club has been devastating. Fans are quickly losing hope and there are serious reprimands in place to mismanage the situation. However, in a recent development, the Mets
may be looking at a positive outcome.
According to the Mets’ lawyer, Karen Wager, the Wilpons have asked the judge handling the case, to unseal the complaint issued by the trustee. The letter that was sent to the judge to request the unsealing has also been sent over to the press. Wager debases
the information put forward by the New York Times, which gathered its information from two anonymous lawyers. In subsequent response, Karen has asked for the complaint to be unsealed as soon as possible.
"The defendants have strong objection to the heated rhetoric and unfounded conclusions in the complaint," Wagner wrote in her letter. "Nonetheless, the objective of keeping the complaint sealed are (sic) no longer being served, so defendants consent to its
immediate unsealing."
Trustee Picard is overlooking the liquidation of Bernard Madoff’s firm at the moment. The suit against the Mets comes in direct connection to the prevalent situation. The New York Times had made the connection at first, citing a suit was going to be conducted
against the Wilpons’ and Saul Katz’s organization. The nature of the suit would involve almost every entity under the Mets’ control.
That has been the leading reason why the baseball club has been seeking financial assistance to prepare a contingency plan. There are a lot of options available in the market and one likely that has been tabled by the Chief Operating Officer, Jeff Wilpon,
is the sale of 20% - 25% of the company to interested investors. The goal would be to pile up money and liquid cash.
Another recent development being considered has been pointed at the sale of SportsNet New York cable network. The pursuit of such a scheme would generate handsome amounts for the owners. Nevertheless, nothing can be said for certain, as there is no definite
news on what may happen in the coming days.

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