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Mets case could expose MLB books

2

Wooooooooo! does this not sound interesting? Every team in the MLB might open their books to scrutiny! The MLB PA must be salivating about this! I wonder if Jeffy knows what a pariah is? The highlights of the story are; "The Irving Picard lawsuit filed against the Mets' ownership group could result in the financial records of several, if not all, other Major League teams being examined in court" "Because of the many connections among the MLB office and the 30 major-league clubs, Picard may be able to argue successfully that he should have access to some of the league’s financial data. Baseball officials generally work hard to keep their books closed to the public." "If the trustee is able to trace funds from the Madoff scheme to any accounts of the Mets, he’s going to be able to open up the books and follow that money in the discovery process," said G. Marcus Cole, a Stanford Law School professor and expert on bankruptcy law. "That’s for certain." Said one former club president: "This is bad news for the Mets and everyone in baseball. Because of revenue sharing, everybody’s a partner of everyone else in a greater way than ever before. The discovery process and document searches aren’t going to be confined only to the Mets. This will get back to MLB." The executive added that the league’s business partners — such as networks, corporate sponsors, and other advertisers — could conceivably become aware of financial information that wasn’t previously available to them. Armed with this data, those entities may be able to negotiate contracts on terms less favorable to MLB and its clubs Jon Paul Morosi and Ken Rosenthal -Fox Sports

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