Posted by Sabrina B. @gametimegirl

The New York Mets’ owners and the trustee for Madoff fraud victims have settled for $162 million.

The announcement came Monday morning as jury selection was set to begin in the civil trial that would have determined how much the Mets’ owners would have owed other investors who trusted their money to corrupt financier Bernard Madoff.

The Mets owners will not pay anything for three years.

Fred Wilpon and Saul Katz, principal Mets owners, were in court Monday at the defense table.

Judge Jed Rakoff ruled several weeks ago that the Mets owners must pay up to $83 million in fictitious profits they received over the years from Madoff.

Had they gone to trial, they could have owed another $303 million. Lawyers for the Mets have said they planned to call pitcher Sandy Koufax to testify on their behalf. He invested with Madoff, too.

Madoff is serving a 150-year prison sentence after admitting his fraud.

–ESPN