The embattled Mets owners, Fred Wilpon and Saul Katz, were accused of turning a blind eye to Madoff's fraud and reaping profits despite warning signs, a charge they denied.
Picard originally sought to recover $1 billion for the victims, but U.S. District Judge Jed Rakoff limited the suit to two years, limiting damages to $386 million. Under a March ruling, the owners must pay the victims $83 million and were liable for up to another $303 million.
The jury for the trial, scheduled to begin Monday, had not been selected.
The Wilpons hold most of their wealth through Sterling Equities, a real estate company, which would be difficult to liquidate. As a result, the owners have been seeking a minority owner to relieve the team's financial burden.
The embattled Mets owners, Fred Wilpon and Saul Katz, were accused of turning a blind eye to Madoff's fraud and reaping profits despite warning signs, a charge they denied.
Picard originally sought to recover $1 billion for the victims, but U.S. District Judge Jed Rakoff limited the suit to two years, limiting damages to $386 million. Under a March ruling, the owners must pay the victims $83 million and were liable for up to another $303 million.
The jury for the trial, scheduled to begin Monday, had not been selected.
The Wilpons hold most of their wealth through Sterling Equities, a real estate company, which would be difficult to liquidate. As a result, the owners have been seeking a minority owner to relieve the team's financial burden.
