Mets settle Madoff case for ... how much?

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Mets settle Madoff case for ... how much?

From Comcast SportsNet
NEW YORK (AP) -- The owners of the New York Mets baseball team and a trustee for Bernard Madoff's fraud victims settled Monday for 162 million in a case aimed at repairing the damage from a massive investment scheme. The Mets owners will not pay anything for three years. Jury selection had been set to begin in a civil trial to determine how much the team owners will owe other investors who trusted their money to Madoff, who cheated thousands of investors of roughly 20 billion over at least two decades Trustee Irving Picard had argued the team owners knew that Madoff's corrupt investment scheme was a fraud but continued their investments anyway because they were making a lot of money. Lawyers for the owners insist their clients had no idea the investments were a sham. Both Fred Wilpon and Saul Katz, principal Mets owners, were in court Monday at the defense table. Judge Jed Rakoff said Picard had reviewed the evidence and will no longer pursue a claim of "willful blindness" against the defendants. The judge already had ruled the team's owners must pay up to 83.3 million in profits they received from Madoff. But another ruling blocked Picard from trying to collect the full 1 billion he sought to recoup. He has filed hundreds of lawsuits to force those who profited from their investment to pay into a fund for Madoff's victims. The case has damaged the Mets' financial picture, forcing the team to slash payroll and try to raise tens of millions of dollars by selling small chunks of the team. Dodgers Hall of Fame pitcher Sandy Koufax had been scheduled to testify in the trial about Wilpon's intentions. Koufax invested in Madoff's private investment business at Wilpon's recommendation.

Redick got 'break-up call,' can't put finger on why Clippers didn't have fun

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AP

Redick got 'break-up call,' can't put finger on why Clippers didn't have fun

J.J. Redick no longer plays for the Clippers.

After four seasons in Los Angeles, Redick will suit up for the 76ers next season.

"Going back to the Clippers was honestly just not an option," he explained on The Chronicles of Redick podcast. "I kind of figured last summer when they signed Austin (Rivers) and Jamal (Crawford) back, they basically had guaranteed $25 million in salary for this upcoming season.

"And I knew they weren't gonna really be able to commit financially long-term to having a third shooting guard at a high rate. That's just unrealistic.

"June 29th -- Lawrence Frank was nice enough and professional enough to give me a call. I call it my 'break-up call.' He basically said 'You know, we're not gonna bring you back.'

"But like I said, I have a great relationships there and am very appreciative of my time."

Redick was joined on his inaugural Uninterrupted podcast by Maverick Carter -- LeBron James' business manager.

The two had the following exchange:

Carter: "Win, lose, or draw, you gotta have fun going to work. The worst place a person -- not just an athlete -- if you're not getting up every day and going, 'Oh, I can't wait to get in to work. I'm gonna have some fun today. At least I'm gonna see some people I like.'

"And I think that's important, too. Finding that right fit ... you talked about it on the Clippers -- you guys lost fun. Everyone watching the Clippers could tell that. None of you guys were saying it, but everybody watching the Clippers would go, 'This team isn't having fun. They're a really good team, really talented, a collection of great players. but they're just not having fun.'

"You watch the teams who are having fun -- you watch their bench, you watch how everyone reacts -- anyone who knows sport could watch you guys and go, 'they're not having fun.'"

Redick: "The natural follow-up question to that statement would be: 'Why not? Why are you guys not having fun? You're playing for Doc, you're in LA, you've got talent, you should be having fun.' And at least for the four years that I was there, you try to put your finger on it ... and I could never do that.

"Leaving there, I don't have any ill will towards anyone certainly. Certainly no one to blame or anything like that ... we just couldn't get it done in the postseason."

Perhaps the Clippers weren't having much fun because...

Redick, who turned 33 years old in June, signed a one-year deal with Philly worth $23 million.

He wanted a multi-year deal but didn't get it.

"I wanted stability," Redick explained. "And so the one year with Philly -- I wanted stability more than anything -- and there's all these reports going back to last season saying, 'J.J. wants $16 to $18 (million), and then after the season there was a report in the LA Times from Brad Turner (saying) J.J. wants $18 to $20 (million) a year.'

"First of all, I didn't want any of that. I don't even care. I wanted more years. That was the most important thing to me ... I just wanted to be on a longer deal ... I was more than willing to take less than whatever number was reported."

Drew Shiller is the co-host of Warriors Outsiders and a Web Producer at NBC Sports Bay Area. Follow him on Twitter @DrewShiller

The real issue that lingers now that OJ Simpson is a free man

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USATI

The real issue that lingers now that OJ Simpson is a free man

O.J. Simpson is free. The system as it is defined by those who run it in the case of the Nevada Parole Board, worked.

But the issue that lingers is whether we can free ourselves of him. That system is far more amorphous, arbitrarty and essentially unfair. And in its own revolting way, it works too.

The O.J. market has always been bullish. The old cliché that people can’t get enough no matter how much you shovel at them is more true for him than for any other sports figure of the last 50 years. More than Tiger Woods. More than LeBron James. More than Michael Jordan. More than all of them.

And now his parole hearing, televised and streamed by every outlet except Home & Garden Television, proved it again. He will never not be O.J.

But he is also 70. He is also planning to go to Florida and be with his family, based on what he told the parole board Thursday. He has assiduously avoided the media in his nine years in Lovelock, and if his family is providing the support it pledges, it will do its utmost to keep him from our prying eyes as he enters his dotage.

There is nothing we have that can do him any good. We have eaten all the forms of O.J. there are, culminating in the Emmy-award winning documentary on him, and finally, his release from prison. If he is wise as well as smart, here’s nothing left of his life but re-airs.

So the question becomes not so much whether he can leave fame alone, or whether fame can leave him alone. Our national appetite is poor on the topic of leaving people be, let alone deciding enough is enough. The fame we make for people gorges, purges and gorges again, in a hideous cycle that demeans all involved.

In sum, O.J. Simpson can, if he is paying attention to the value of normalcy, end his addiction to fame. I have far more serious doubts about fame and its addiction to him.