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Former Mets GM Steve Phillips on the case surrounding the team’s owners and convicted Ponzi schemer Bernie Madoff.
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Removal the New York Mets the owners have to -- at least 83 million dollars to a fund to compensate victims of Bernie Madoff.
That will be a trial to CF AO another 300 million.
Joining us now is the former -- general manager his name is Steve -- -- joins us on the phone right state.
You used to work for the will bonds is the people are gonna come up with -- 83 million dollars have they got the money.
-- they actually do I think I would bet that Japanese returning -- -- Lucie Florida this week.
I think speaks with Jeff -- -- the end of the you know -- -- bigotry really is that an issue there's only one point seven billion -- but he could impact that the cheese.
And it's up to 83 million they may not have to pay all of that.
Into the -- anyways and they haven't secured so that's not going to be an issue.
Build a bigger issue is going to be go to trial and evidence based potential but they've principal of that 303 million dollars that that the -- he's going after.
They don't have this and I I don't know -- you know this and -- do they have the 300 million if the -- it was not that way.
Well I don't know that they do but I was stated that it is going to be about -- the group.
Even the district court judge Joseph read -- So at that eight but I -- very difficult to believe that that there are going to be able to prove.
That the Mets owners were willfully Blarney did that in the Madoff fraud and -- -- bad state.
Yet there's enough evidence released of the -- you have to go to what trial I'll be shocked.
-- shocked at night live bit light Stewart I was there and I heard Bernie Madoff state every week of thirteen years lower than about front office.
It never that I had any suspicion there was something shady going and the execution of my job.
We would look at deferred compensation that would responded with -- You know what about the health that would put numbers that would be what what happened to market -- 6% or 8% whatever the market loses 4% what we gave twelfth that.
Big big hit iterations that you know every aspect where the market you don't it would not and sponsored by expert -- as to what a lot of interest you would get a gain on his best.
So bottom line and then Steve is that you think that the will -- will win in court they will not have to pay the 300 million and they will not have to sell -- is that pretty much you'll bottom line here.
Absolutely I will be -- which shocked if they lose that trial and and I believed.
The whole heartedly in their character there had been having to -- that every day in the way they practice their business there's no way they do what was going on here they did not turn a blind guides -- applaud.
Steve Phillips.
Former general manager of the -- thanks for joining -- again Steve appreciate it thank you so.
